---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-029252"
form_type: "8-K"
ticker: null
cik: "0001108967"
company_name: "Orbital Infrastructure Group, Inc."
filed_at: "2023-10-27T23:59:59+00:00"
generated_at: "2026-06-09T06:42:42.776853+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Orbital Infrastructure completes sale of FLP and GTS subsidiaries in Chapter 11

## Summary
- FLP sold to Ocelot Bidco for ~$178.5M credit bid plus $2M cash and release of guarantees.
- GTS sold to Streeterville Capital for ~$40M credit bid plus $1.7M cash to the estate.
- Both transactions closed on October 24, 2023, as authorized by the Bankruptcy Court.
- Sales are part of Company's Chapter 11 restructuring; subsidiaries were wholly owned.

## SEC filing metadata
- accession: 0001437749-23-029252
- form_type: 8-K
- cik: 0001108967
- company_name: Orbital Infrastructure Group, Inc.
- filed_at: 2023-10-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108967/000143774923029252/0001437749-23-029252-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1108967/000143774923029252/oeg20231026_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-029252
- JSON: https://secwatch.observer/filing/0001437749-23-029252.json
- Plain text: https://secwatch.observer/filing/0001437749-23-029252.txt

## Key facts
- M&A Transactions
  Orbital Infrastructure Group, Inc. completed a disposition involving Ocelot Bidco LLC for aggregate consideration consisting of (i) the FLP Buyer’s credit bid of approximately $171,000,000 for certain prepetition obligations and approximately $7,500, (closed 2023-10-24).
  - Action: disposition
  - Counterparty: Ocelot Bidco LLC
  - Consideration: aggregate consideration consisting of (i) the FLP Buyer’s credit bid of approximately $171,000,000 for certain prepetition obligations and approximately $7,500,
  - Closing: 2023-10-24
  source text: the FLP Purchase Agreement, the FLP Buyer agreed to acquire the equity interests in FLP for aggregate consideration consisting of (i) the FLP Buyer’s credit bid of approximately $171,000,000 for certain prepetition obligations and approximately $7,500,000 for the Front Line DIP Obligations (as defined in the FLP Purchase Agreement), (ii) $2,000,000 cash and (iii) the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108967/000143774923029252/0001437749-23-029252-index.htm
- M&A Transactions
  Orbital Infrastructure Group, Inc. completed a disposition involving Streeterville Capital, LLC for aggregate consideration consisting of (i) the GTS Buyer’s credit bid of approximately $33,500,000 for certain secured prepetition obligations, (ii) the GTS Buye (closed 2023-10-24).
  - Action: disposition
  - Counterparty: Streeterville Capital, LLC
  - Consideration: aggregate consideration consisting of (i) the GTS Buyer’s credit bid of approximately $33,500,000 for certain secured prepetition obligations, (ii) the GTS Buye
  - Closing: 2023-10-24
  source text: the GTS Purchase Agreement, the GTS Buyer agreed to acquire the equity interests in GTS for aggregate consideration consisting of (i) the GTS Buyer’s credit bid of approximately $33,500,000 for certain secured prepetition obligations, (ii) the GTS Buyer’s credit bid of $6,500,000 for the DIP Obligations (as defined in the GTS Purchase Agreement) and (iii) $1,700,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108967/000143774923029252/0001437749-23-029252-index.htm

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