---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-014910"
form_type: "8-K"
ticker: null
cik: "0001551693"
company_name: "PROJECT SAGE OLDCO, INC."
filed_at: "2024-02-16T23:59:59+00:00"
generated_at: "2026-06-06T00:13:06.627141+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Sientra files Chapter 11, enters $90M DIP financing; Nasdaq delisting on Feb 22

## Summary
- Chapter 11 petitions filed Feb 12, 2024 in Delaware; cases jointly administered.
- Deerfield Partners provides $90M DIP facility: $22.5M new money + $67.5M roll-up of existing debt.
- Nasdaq delisting notice received Feb 13; trading suspended Feb 22, stock to trade OTC Pink under SIENQ.
- Company warns equity holders face significant or complete loss depending on Chapter 11 outcome.
- Bankruptcy Court approved DIP on interim basis Feb 14; milestones and budget conditions apply.

## SEC filing metadata
- accession: 0001213900-24-014910
- form_type: 8-K
- cik: 0001551693
- company_name: PROJECT SAGE OLDCO, INC.
- filed_at: 2024-02-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.03, 2.03, 3.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1551693/000121390024014910/0001213900-24-014910-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1551693/000121390024014910/ea193946-8k_sientrainc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-014910
- JSON: https://secwatch.observer/filing/0001213900-24-014910.json
- Plain text: https://secwatch.observer/filing/0001213900-24-014910.txt

## Key facts
- Distress & Bankruptcy
  PROJECT SAGE OLDCO, INC. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2024-02-12).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the District of Delaware
  - Petition: 2024-02-12
  source text: on February 12, 2024, Sientra, Inc. (the “ Company ”) and certain of its direct and indirect subsidiaries filed voluntary petitions to commence proceedings under chapter 11 (the “ Chapter 11 Cases ”) of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware (the “ Bankruptcy Court ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1551693/000121390024014910/0001213900-24-014910-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.