IDEANOMICS, INC.: going-concern / distress — Ideanomics files Chapter 11, agrees to sell substantially all assets to Tillou Management

IDEANOMICS, INC.

Filed Chapter 11 petitions on Dec 4, 2024 in Delaware Bankruptcy Court; seeks sale of substantially all assets under Section 363.
APA with Tillou Management (stalking horse) for asset sale; purchase price includes assumption of liabilities, cash for cure costs, and credit bid of existing claims.
DIP credit agreement with Tillou for up to $11.619M new money at 12% interest; up to $18.87M of existing claims converted to DIP loans.
Closing expected in Q1 2025, subject to Bankruptcy Court approval, auction for higher bids, and other conditions.

item 1.01 item 1.03 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

IDEANOMICS, INC. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2024-12-04).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware
Petition: 2024-12-04

Exact text from the filing

On December 4, 2024, Ideanomics, Inc. (the “Company”) and certain of its subsidiaries (collectively, the “Debtors”) filed voluntary petitions (the “Bankruptcy Petitions,” and the cases commenced thereby, the “Chapter 11 Cases”) for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).

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Source: SEC EDGAR

accession 0001628280-24-050147

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