ISUN, INC.: going-concern / distress — iSun, Inc. and subsidiaries file Chapter 11 bankruptcy; Nasdaq delisting filed; CRO appointed

ISUN, INC.

iSun, Inc. and 11 subsidiaries filed voluntary Chapter 11 petitions on June 3, 2024, in Delaware Bankruptcy Court.
Nasdaq filed Form 25 to delist common stock on June 3; delisting effective in 10 days; shares now trading on OTC Pink.
Appointed Rob Vanderbeek as Chief Restructuring Officer effective June 3; compensation via Novo Advisors fees.
Bankruptcy Court approved first day motions on June 5 to allow ordinary course operations during Chapter 11.
Company warns holders of common stock could experience significant or complete loss on investment.

item 1.03 item 2.04 item 3.01 item 5.02 item 8.01

Executive movements

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Appointed

Rob Vanderbeek

Chief Restructuring Officer

ISUN, INC.

Effective: 2024-06-03
Filed: June 7, 2024, 7:59 PM ET

Effective June 3, 2024, the Board of Directors (the “Board”) of iSun, Inc. (“iSun” or the “Company”) appointed Rob Vanderbeek to serve as Chief Restructuring Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.99

ISUN, INC. entered chapter 11 in District of Delaware (petition 2024-06-03).

Proceeding: chapter 11
Court: District of Delaware
Petition: 2024-06-03

Exact text from the filing

On June 3, 2024 (the “Petition Date”), iSun, Inc. (the “Company”) and certain of its subsidiaries (such subsidiaries, each a “Debtor,” and together with the Company, the “Debtors”) filed a voluntary petition for reorganization under chapter 11 of title 11 of the U.S. Code (the “Bankruptcy Code”) in the Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) (the “Chapter 11 Cases”).

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Executive change SEC 8-K Item 5.02 confidence 0.95

Rob Vanderbeek was appointed as Chief Restructuring Officer at ISUN, INC..

Action: appointed
Role: Chief Restructuring Officer

Exact text from the filing

Effective June 3, 2024, the Board of Directors (the “Board”) of iSun, Inc. (“iSun” or the “Company”) appointed Rob Vanderbeek to serve as Chief Restructuring Officer of the Company.

View on SEC.gov

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Source: SEC EDGAR

accession 0001493152-24-023164

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