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

IDEANOMICS, INC.

Voluntary Chapter 11 petition filed December 4, 2024 in Delaware Bankruptcy Court.
Asset purchase agreement with Tillou Management provides for credit bid and assumption of liabilities; close expected Q1 2025.
DIP financing of up to $11.6M new money at 12% interest; existing claims up to $18.9M to be converted into DIP loans.
Company seeking approval to sell assets under Section 363; Tillou designated as stalking horse subject to higher bids.

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 0001628280-24-050149

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