Streetbeat News

Bankruptcy

PTRA

Proterra Inc (PTRA) shares have dropped by 22.9% to $0.12 after the company announced it has filed for Chapter 11 bankruptcy. Despite this, the company plans to continue operations and secure funding for salaries, benefits, and vendor payments. The scheduled earnings conference call for August 9 has been canceled.

Portfolio Pulse from Henry Khederian

August 10, 2023 | 3:52 pm

PTRA

Proterra has filed for Chapter 11 bankruptcy, leading to a continued downward trend in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 3:52 pm

FTTUSD

FTX (CRYPTO: FTT) is facing a clash with traders and market makers on a principal creditor committee, who are accused of trying to dominate assets without considering the repercussions for other involved parties. This follows a preliminary restructuring proposal by FTX's CEO and Chief Restructuring Officer, John J. Ray III. Unsecured creditors claim they weren't adequately consulted and argue that FTX could achieve better returns from its substantial cash and token reserves. FTX's legal team maintains that there have been thorough discussions with both parties' representatives.

Portfolio Pulse from Murtuza Merchant

August 10, 2023 | 1:14 pm

AMRS

Amyris, Inc. has announced that it has filed for Chapter 11 bankruptcy, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 12:54 pm

AMRS

APP

CPRI

GRTX

AppLovin Corporation's shares rose by 22.6% in pre-market trading following better-than-expected Q2 results. Capri Holdings Limited's shares also rose by 26.8% as Tapestry is reportedly nearing a deal to buy the company. On the other hand, Amyris, Inc.'s shares fell by 56.2% after the company filed for bankruptcy, and Galera Therapeutics, Inc.'s shares fell by 81.7% after receiving a Complete Response Letter from the U.S. FDA.

Portfolio Pulse from Lisa Levin

August 10, 2023 | 12:06 pm

AMRS

Amyris, Inc. (AMRS) has filed for Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the District of Delaware.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 6:35 am

WE

WeWork Inc (NYSE:WE), once valued at $40 billion, is now in trouble and warned investors that it could be going out of business soon, according to a recent SEC financial filing. The company, which rents office space, has struggled since the COVID-19 pandemic pushed workers to work remotely, crushing the demand for in-person office spaces. After Tuesday’s filing showed the company’s growing concern, the stock dropped more than 30% in Wednesday’s session, with WeWork’s market cap falling to less than $300 million.

Portfolio Pulse from Aaron Bry

August 09, 2023 | 8:12 pm

YELL

Yellow Corp is still evaluating alternative bankruptcy loan offers, according to Bloomberg.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 7:31 pm

APO

YELL

Yellow Corp has delayed its request to tap into bankruptcy financing led by Apollo Global Management. The company is expected to update the bankruptcy judge on debtor-in-possession (DIP) financing today, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 6:09 pm

DBDQQ

Diebold Nixdorf, currently trading under the symbol DBDQQ, is expected to emerge from financial restructuring on August 11 and be relisted on the NYSE on August 14.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 12:11 pm