Nogin, Inc.: going-concern / distress — Bankruptcy court confirms Nogin's Chapter 11 plan; existing equity cancelled for no value

Nogin, Inc.

Court entered confirmation order on March 28, 2024 for First Amended Joint Chapter 11 Plan.
Existing common stock, options, and warrants will be cancelled for no value.
Senior notes receive $15.5M recovery plus rights to pursue causes of action.
All equity in reorganized company will be held by a new stockholder (B. Riley affiliate).
Company had assets ~$48.8M and liabilities ~$157.9M as of March 31, 2024.

item 1.03 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

Nogin, Inc. entered chapter 11 in U.S. Bankruptcy Court for the District of Delaware (petition 2023-12-05).

Proceeding: chapter 11
Court: U.S. Bankruptcy Court for the District of Delaware
Petition: 2023-12-05

Exact text from the filing

As previously disclosed, on December 5, 2023, Nogin, Inc. (the “Company”) and certain of its subsidiaries filed voluntary petitions for relief (the “Chapter 11 Cases”) under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Court”).

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Source: SEC EDGAR

accession 0001213900-24-029909

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