Charge Enterprises, Inc.: going-concern / distress — Charge Enterprises files prepackaged Chapter 11; plans to cancel all stock, convert Arena debt to equity

Charge Enterprises, Inc.

Filed Chapter 11 petition on March 7, 2024; prepackaged plan with Arena Investors.
Plan cancels all existing preferred and common stock; Arena's secured debt converted to new equity.
DIP financing up to $10M approved; confirmation hearing set for April 23, 2024.
Company warns stockholders could experience significant or complete loss on investment.
Stock trades OTC since Feb 29, 2024; Arena foreclosure actions stayed by bankruptcy.

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Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Charge Enterprises, Inc. entered chapter 11 in U.S. Bankruptcy Court for the District of Delaware (petition 2024-03-07).

Proceeding: chapter 11
Court: U.S. Bankruptcy Court for the District of Delaware
Petition: 2024-03-07

Exact text from the filing

On March 7, 2024, the Company filed a voluntary petition for relief under Chapter 11 in the Bankruptcy Court.

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Source: SEC EDGAR

accession 0001437749-24-007478

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