---
schema_version: "secwatch.filing_event.v1"
accession: "0001595585-23-000007"
form_type: "8-K"
ticker: null
cik: "0001595585"
company_name: "Tricida, Inc."
filed_at: "2023-01-12T23:59:59+00:00"
generated_at: "2026-06-20T16:01:49.498925+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Tricida files for Chapter 11 bankruptcy; enters restructuring support agreement with noteholders

## Summary
- Company filed voluntary Chapter 11 petition on Jan 11, 2023 in Delaware Bankruptcy Court to maximize asset value.
- RSA executed with holders of >80% of 3.50% Convertible Senior Notes due 2027; milestones for expedited sale process.
- Appointed Thomas G. FitzGerald as independent director and sole member of Special Committee for conflict evaluation.
- Bankruptcy filing triggers event of default on Notes, automatically accelerating principal and interest.
- Company intends to sell substantially all assets; common stockholders are unlikely to receive any distribution.

## SEC filing metadata
- accession: 0001595585-23-000007
- form_type: 8-K
- cik: 0001595585
- company_name: Tricida, Inc.
- filed_at: 2023-01-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.03, 2.04, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1595585/000159558523000007/0001595585-23-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1595585/000159558523000007/tcda-20230109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001595585-23-000007
- JSON: https://secwatch.observer/filing/0001595585-23-000007.json
- Plain text: https://secwatch.observer/filing/0001595585-23-000007.txt

## Key facts
- Debt Financings
  Tricida, Inc. faced acceleration on senior notes with U.S. Bank National Association.
  - Instrument: senior notes
  - Counterparty: U.S. Bank National Association
  - Event: acceleration
  source text: The bankruptcy filing described in Item 1.03 above constitutes an event of default that accelerates the Company's obligations under the Indenture and the Notes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1595585/000159558523000007/0001595585-23-000007-index.htm
- Distress & Bankruptcy
  Tricida, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-01-11).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the District of Delaware
  - Petition: 2023-01-11
  source text: On January 11, 2023, the Company filed a voluntary petition for relief under chapter 11 ("Chapter 11") of Title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Delaware ("Bankruptcy Court") thereby commencing a Chapter 11 case for the Company (Case No. 23-10024).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1595585/000159558523000007/0001595585-23-000007-index.htm
- Executive change
  Thomas G. FitzGerald was appointed as Class I director at Tricida, Inc..
  - Action: appointed
  - Role: Class I director
  source text: On January 9, 2023, Thomas G. FitzGerald became a member of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1595585/000159558523000007/0001595585-23-000007-index.htm
- Governance Changes
  Tricida, Inc.: Adopted an amendment to the Amended and Restated Bylaws establishing a single-member special committee to evaluate causes of action where a conflict of interest exists (effective 2023-01-10).
  - Change: bylaw amendment
  - Effective: 2023-01-10
  source text: Effective January 10, 2023, the Board adopted an Amendment to the Amended and Restated Bylaws of the Company (the “Bylaws Amendment”), a copy of which is filed herewith as Exhibit 3.1.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1595585/000159558523000007/0001595585-23-000007-index.htm
- Material Agreements
  Tricida, Inc. entered into Restructuring Support Agreement with holders holding in excess of 80% of the aggregate amount of the Company’s 3.50% Convertible Senior Notes due 2027 (effective 2023-01-11).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: holders holding in excess of 80% of the aggregate amount of the Company’s 3.50% Convertible Senior Notes due 2027
  - Effective: 2023-01-11
  source text: On January 11, 2023, Tricida, Inc. (the “Company”) executed a Restructuring Support Agreement (the “Restructuring Support Agreement”) with holders holding in excess of 80% of the aggregate amount of the Company’s 3.50% Convertible Senior Notes due 2027 (the “Notes,” and the holders thereof, the “Consenting Noteholders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1595585/000159558523000007/0001595585-23-000007-index.htm

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