Summary by Moomoo AI
On May 3, 2024, Nogin, Inc., a Delaware-incorporated company, and its operating subsidiary, Nogin Commerce, Inc., successfully completed a significant corporate restructuring under Chapter 11 of the U.S. Bankruptcy Code. This restructuring was confirmed by the U.S. Bankruptcy Court for the District of Delaware on March 28, 2024, and included the entry into an Equity Purchase Agreement with Nogin Holdings, LLC, designated by BRF Finance Co., the administrative agent for the lenders. The agreement facilitated the acquisition of reorganized equity interests in Nogin Commerce by the Purchaser in exchange for the consideration outlined in the agreement. As part of the restructuring plan, the company's common stock, along with related options and warrants, were canceled without value, and new equity in the...Show More
