secwatch.observer — SEC 8-K summary
======================================

Issuer:     Appgate, Inc. (—)
CIK:        0001353538
Form:       8-K
Filed at:   2024-06-24T23:59:59+00:00
Accession:  0001628280-24-029628
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 3.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bankruptcy court confirms Appgate's prepackaged Chapter 11 plan; common stock to be cancelled
--------------------------------------------------------------------------------

- Plan confirmed June 17, 2024; all 131.8M common shares cancelled on effective date with no value.
- 1L convertible notes receive Series A Units and Class C Magnetar Units; 2L notes receive Series B Units and Class C AGF Units; 3L RCF claims get no recovery.
- Board dissolved: directors Fahim Ahmed, Jonathan Ledecky, Jeanne Manischewitz, Manuel Medina, Steven Panagos, Benjamin Phillips, Lisa Sibenac, Leo Taddeo cease.
- Monthly operating report (May 31, 2024): total assets $125.5M, total liabilities $305.1M, net deficit $179.6M, net loss -$5.8M.
- Company plans to emerge private, file Form 15 to deregister stock and cease SEC reporting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1353538/000162828024029628/0001628280-24-029628-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1353538/000162828024029628/apgt-20240617.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-029628

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer