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Edgio, Inc. Launches Strategic Financial Restructuring to Facilitate Sale and Strengthen Operations
Edgio, Inc. (Nasdaq: EGIO) has voluntarily filed for Chapter 11 bankruptcy to facilitate a sale of its assets and strengthen operations. The company has entered into a stalking horse asset purchase agreement with its primary lender, Lynrock Lake Master Fund LP, which has agreed to acquire assets through a $110 million credit bid. Edgio aims to complete the sale process in approximately 80 days.
The company has secured $15.6 million in debtor-in-possession financing from Lynrock to ensure continuity of operations during the process. Edgio plans to continue delivering its products to over 935 global customers throughout the sale process and Chapter 11 proceedings. The company's key offerings include the Edgio Applications and Security Suite, Edgio Uplynk Platform, and Edgio Delivery network.
Edgio, Inc. (Nasdaq: EGIO) has voluntarily filed for Chapter 11 bankruptcy to facilitate a sale of its assets and strengthen operations. The company has entered into a stalking horse asset purchase agreement with its primary lender, Lynrock Lake Master Fund LP, which has agreed to acquire assets through a $110 million credit bid. Edgio aims to complete the sale process in approximately 80 days.
The company has secured $15.6 million in debtor-in-possession financing from Lynrock to ensure continuity of operations during the process. Edgio plans to continue delivering its products to over 935 global customers throughout the sale process and Chapter 11 proceedings. The company's key offerings include the Edgio Applications and Security Suite, Edgio Uplynk Platform, and Edgio Delivery network.
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