Originally Posted by redhot

I don’t know if anyone saw but looks like the ch 11 reorganization plan got pushed to Feb 13th and they delayed equity placing as well. I’m no financial guru at all but asked chat GBT but this sound like a pretty big deal their restructuring plans.

Equity placing: means a company is offering new shares of its stock to investors to raise money. This is often done to get cash quickly, usually to pay off debt, invest in operations, or fund other business needs. The shares are typically sold to institutional investors (like banks or funds) at a discounted price to attract buyers. I told GBT to analyze the most likely reason why spirits plans got delayed and it said most likely due to lack of investor confidence and the terms were not ideal for them. Idk, could be nothing but worth mentioning to you guys who might have more info or knowledge on the subject.

I’m really hoping this does not impact the approval of spirits restructuring plan on the 13th now.

if anyone else has information on how the bankruptcy proceedings are going please put it down here.

sources -

Approval rescheduled date -

https://www.investing.com/news/sec-f...y-93CH-3829241

Delayed equity placing -

https://www.tipranks.com/news/spirit...ankruptcy-exit