Bright Green Corp: going-concern / distress — Bright Green files Chapter 11, withdraws from cannabis, to rename Drugs Made In America

Bright Green Corp

Filed Chapter 11 on Feb 22, 2025; amended RSA with majority shareholder Stockwell funds $6.5M Exit Facility.
All allowed creditor claims paid in full; shareholders retain equity with 50:1 reverse split but no dilution.
Name change to Drugs Made In America Corp.; Stockwell becomes CEO & Executive Chair for one year.
Agreed with DEA to withdraw all cannabis renewal applications; may reinstate later.
Plans $3.5B owner/operator model for controlled substance production, EB-5 program, and Nasdaq relisting.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Bright Green Corp entered chapter 11 in United States Bankruptcy Court for the District of New Mexico (petition 2025-02-22).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of New Mexico
Petition: 2025-02-22

Exact text from the filing

On February 22, 2025 (the “Petition Date”), the Company filed a voluntary petition in the United States Bankruptcy Court for the District of New Mexico (the “Bankruptcy Court”) for relief under chapter 11 of the Bankruptcy Code, thereby commencing the chapter 11 case (the “Chapter 11 Case”).

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Source: SEC EDGAR

accession 0001493152-25-008512

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