secwatch.observer — SEC 8-K summary
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Issuer:     Nogin, Inc. (—)
CIK:        0001841800
Form:       8-K
Filed at:   2023-12-11T23:59:59+00:00
Accession:  0001213900-23-094753
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 2.03, 1.01, 2.04, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Nogin files Chapter 11 bankruptcy; restructuring likely to wipe out common stock and warrants
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- Filed voluntary Chapter 11 petitions on Dec 5, 2023 in Delaware Bankruptcy Court.
- Restructuring support agreement contemplates sale of company; common stock holders expected to receive no distribution.
- Entered $24.7M DIP facility with BRF Finance Co. to repay bridge note and fund operations.
- Convertible Noteholders to receive $15.5M payment and priority claim on litigation proceeds.
- Chapter 11 filing triggers acceleration of $8.53M bridge note and 7% convertible notes due 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841800/000121390023094753/0001213900-23-094753-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841800/000121390023094753/ea189862-8k_nogininc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-094753

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