BIORA THERAPEUTICS, INC.: going-concern / distress — Biora Therapeutics files Chapter 11 bankruptcy, secures DIP financing up to $10.25M

BIORA THERAPEUTICS, INC.

Filed Chapter 11 on Dec 27, 2024; seeks sale of assets via court-supervised process.
Secured up to $10.25M new DIP financing; total DIP commitment $46.125M (inc. roll-up).
Lenders agreed to serve as stalking horse bidder; sale process milestones set for Q1 2025.
Company warns equity holders face significant or complete loss on investment.

item 1.01 item 1.03 item 2.04 item 7.01 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

BIORA THERAPEUTICS, INC. entered chapter 11 in Bankruptcy Court for the District of Delaware (petition 2024-12-27).

Proceeding: chapter 11
Court: Bankruptcy Court for the District of Delaware
Petition: 2024-12-27

Exact text from the filing

On December 27, 2024, Biora Therapeutics, Inc. (the “Company” or the “Debtor”) filed a voluntary petition (the “Chapter 11 Case”) for relief under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) with the Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”)

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Source: SEC EDGAR

accession 0001213900-24-113256

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