secwatch.observer — SEC 8-K summary
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Issuer:     Pear Therapeutics, Inc. (—)
CIK:        0001835567
Form:       8-K
Filed at:   2023-04-07T23:59:59+00:00
Accession:  0001835567-23-000020
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.02, 1.03, 2.04, 2.05, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pear Therapeutics files Chapter 11, terminates 92% of staff, CEO steps down
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- Filed Chapter 11 in Delaware; intends to sell business or assets under section 363 of Bankruptcy Code.
- Reached pre-filing settlement with lender: paid $18.66M cash, assigned up to $4.7M tax refund; residual unsecured claim up to $10.4M.
- CEO Corey McCann stepped down; COO/CFO Christopher Guiffre becomes principal executive officer.
- Board authorized termination of ~170 employees (92% of workforce); ~15 employees retained for transition; one-time charge of ~$1.2M.
- Equity holders likely receive little or no recovery; trading in securities highly speculative.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1835567/000183556723000020/0001835567-23-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1835567/000183556723000020/pear-20230405.htm
  HTML page:      https://secwatch.observer/filing/0001835567-23-000020

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