Molekule Group And Its Subsidiary Have Filed For Chapter 11 Bankruptcy And Will Operate As A Debtor In Possession, Seeking A Credit Facility Of $5M From Dip Lenders Including Foundry Group Next, Armistice Capital Master Fund, SVBC, Bridge Coast Capital
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Molekule Group and its subsidiary have filed for Chapter 11 bankruptcy and will operate as a debtor in possession. They are seeking a $5M credit facility from DIP lenders including Foundry Group Next, Armistice Capital Master Fund, SVBC, and Bridge Coast Capital.
October 03, 2023 | 7:31 pm
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Molekule Group, listed as MKUL, has filed for Chapter 11 bankruptcy and is seeking a $5M credit facility from DIP lenders.
Filing for bankruptcy generally has a negative impact on a company's stock as it indicates financial distress. The company's attempt to secure a $5M credit facility suggests they are in need of immediate funds, which could further negatively impact the stock.
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