8-K
filed February 14, 2024, 6:59 PM ET
CIK 0001501134
other material
confidence high
sentiment negative
materiality 1.00
Invitae Corp: going-concern / distress — Invitae files Chapter 11 bankruptcy; NYSE delisting, stock moves to OTC Pink (NVTA)
Invitae Corp
- Filed voluntary Chapter 11 petitions on Feb 13, 2024 in U.S. Bankruptcy Court for District of New Jersey.
- Entered Transaction Support Agreement with holders of ~78% of outstanding Secured Notes to back a sale process.
- NYSE notified delisting on Feb 6; common stock began trading on OTC Pink on Feb 7 under symbol NVTA.
- Company expects equity interests to be cancelled with no distribution to shareholders.
- Uses cash on hand to fund operations during Chapter 11; first-day motions seek to pay employees and vendors.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Invitae Corp faced acceleration on senior notes with U.S. Bank Trust Company, National Association.
- Instrument
- senior notes
- Counterparty
- U.S. Bank Trust Company, National Association
- Event
- acceleration
Exact text from the filing
The filing of the Chapter 11 Cases constitutes an event of default that accelerated and, as applicable, increased certain obligations under the following debt instruments and agreements (collectively, the "Debt Instruments"):
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Invitae Corp faced acceleration on senior notes with U.S. Bank Trust Company, National Association.
- Instrument
- senior notes
- Counterparty
- U.S. Bank Trust Company, National Association
- Event
- acceleration
Exact text from the filing
the "Secured Notes Indenture"), by and among the Company, the guarantors party thereto from time to time and U.S. Bank Trust Company, National Association, as trustee and collateral agent
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Invitae Corp faced acceleration on senior notes with U.S. Bank Trust Company, National Association.
- Instrument
- senior notes
- Counterparty
- U.S. Bank Trust Company, National Association
- Event
- acceleration
Exact text from the filing
Indenture, dated as of September 10, 2019 (as amended, supplemented or otherwise modified from time to time), by and between the Company, and U.S. Bank Trust Company, National Association (as successor in interest to U.S. National Bank Association), as trustee;
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Invitae Corp faced acceleration on senior notes with U.S. Bank Trust Company, National Association.
- Instrument
- senior notes
- Counterparty
- U.S. Bank Trust Company, National Association
- Event
- acceleration
Exact text from the filing
Indenture, dated as of April 8, 2021 (as amended, supplemented or otherwise modified from time to time), by and between the Company and U.S. Bank Trust Company, National Association (as successor in interest to U.S. National Bank Association), as trustee.
View on SEC.gov
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.9
Invitae Corp entered chapter 11 in United States Bankruptcy Court for the District of New Jersey (petition 2024-02-13).
- Proceeding
- chapter 11
- Court
- United States Bankruptcy Court for the District of New Jersey
- Petition
- 2024-02-13
Exact text from the filing
On February 13, 2024 (the “Petition Date”), Invitae Corporation (the “Company”) and certain of its direct and indirect subsidiaries (together with the Company, the “Company Parties”) filed voluntary petitions to commence proceedings under chapter 11 (the “Chapter 11 Cases”) of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”).
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
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