secwatch.observer — SEC 8-K summary
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Issuer:     PROJECT SAGE OLDCO, INC. (—)
CIK:        0001551693
Form:       8-K
Filed at:   2024-06-25T23:59:59+00:00
Accession:  0001213900-24-055790
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 3.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sientra (now Project Sage) Chapter 11 plan confirmed; common stock canceled with no value
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- Bankruptcy Court confirmed Second Amended Combined Plan on June 18, 2024, enabling wind-down after asset sales.
- All outstanding common stock canceled, extinguished, and deemed worthless on the Effective Date.
- Total assets ~$81.5M, total liabilities ~$123.7M as of April 30, 2024; equity holders receive no distribution.
- Board dissolved and officers dismissed upon plan effective date; company to deregister stock via Form 15.
- Plan reserves $525,000 for General Unsecured Claims Cash Pool after earlier sales to Tiger and Nuance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1551693/000121390024055790/0001213900-24-055790-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1551693/000121390024055790/ea0208488-8k_project.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-055790

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