{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-24-012888","form_type":"8-K","ticker":null,"cik":"0001551693","company_name":"PROJECT SAGE OLDCO, INC.","filed_at":"2024-02-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.576359+00:00","generated_at":"2026-06-06T03:22:43.508826+00:00","sec_items":["1.03","2.04","7.01","8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Sientra files for Chapter 11, secures $22.5M DIP financing to pursue sale of business","bullets":["Filed Chapter 11 on Feb 12, 2024 in Delaware; intends to sell business under Section 363 of Bankruptcy Code.","Secured $22.5M new money DIP financing plus $67.5M roll-up of prepetition debt from existing lenders Deerfield.","Prepetition first-lien term loan outstanding ~$71.78M accelerated by filing; creditors' rights stayed.","Expedited sale Milestones: asset sale within 60 days, Chapter 11 plan effective within 90 days of petition.","Company cautions equity holders could experience significant or complete loss depending on restructuring outcome."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-24-012888","json":"https://secwatch.observer/filing/0001213900-24-012888.json","markdown":"https://secwatch.observer/filing/0001213900-24-012888.md","text":"https://secwatch.observer/filing/0001213900-24-012888.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1551693/000121390024012888/0001213900-24-012888-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1551693/000121390024012888/ea193549-8k_sientrainc.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T03:22:43.508826+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8ef43a77e9252b9b6e1923cab72874496053f527","claim":"PROJECT SAGE OLDCO, INC. faced acceleration on term loan of approximately $71,780,000 outstanding borrowings.","evidence_excerpt":"and the agent (at the direction of the lenders party thereto) (the “ Prepetition First Lien Term Loan Agreement ”). As of the Petition Date, the Company had approximately $71,780,000 outstanding borrowings under the Prepetition First Lien Loan Agreement. The Prepetition First Lien Term Loan Agreement provides that, as a result of the Chapter 11 Cases, the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1551693/000121390024012888/0001213900-24-012888-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"approximately $71,780,000 outstanding borrowings"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}