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Debt Financing / Related, Divestitures / Spin-offs, Bankruptcy / Related

Newage Inc Files Voluntary Petition For Relief Under Chapter 11

Published: 08/30/2022 21:23 GMT
(NBEV) - Newage, Inc. Files Voluntary Petition for Relief Under Chapter 11.
Newage Inc - Also is Filing a Motion to Obtain Court Approval of an Asset Purchase Agreement With a "stalking Horse" Bidder, Dip Financing, Llc.
Newage Inc - Intends to Pursue a Sale of Substantially All Its Assets As a Going Concern in One Or More Transactions.
Newage Inc - Company, With Help of Its Advisors, Has Secured a Commitment for a "debtor in Possession" Financing Facility of $16.0 Million.