SURGALIGN HOLDINGS, INC.: going-concern / distress — Surgalign bankruptcy plan confirmed; all equity cancelled for zero recovery; auditor resigns

SURGALIGN HOLDINGS, INC.

Bankruptcy court confirmed Chapter 11 plan on Sep 27, 2023; effective date expected Oct 2, 2023.
All outstanding common stock (9,183,447 shares) cancelled for no consideration on effective date.
Current board and officers to resign; plan administrator to serve as sole officer/director post-effective date.
Auditor Grant Thornton resigned Sep 27, 2023; no disagreements with company on accounting matters.
Company intends to file Form 15 to terminate SEC registration and suspend all periodic reporting.

item 1.03 item 3.03 item 4.01 item 5.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

SURGALIGN HOLDINGS, INC. entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2023-06-19).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the Southern District of Texas
Petition: 2023-06-19

Exact text from the filing

As previously disclosed, on June 19, 2023, Surgalign Holdings, Inc. (the “ Company ”) and certain of its direct and indirect subsidiaries (together with the Company, the “ Debtors ” and, after the Effective Date (as defined below), the “ Wind-Down Debtors ,” as applicable) commenced voluntary proceedings under chapter 11 (the “ Chapter 11 Cases ”) of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Court”).

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Source: SEC EDGAR

accession 0001213900-23-081015

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