Apollo-Backed Software Maker Edgio Seeks Bankruptcy Protection [BNN Bloomberg (Canada)]
Edgio, Inc. (EGIO)
Company Research
Source: BNN Bloomberg
The Nasdaq-listed company, a provider of media content and cyber-security solution, listed $379 million in assets and $369 million in liabilities, according to court papers. The company has retained Richards Layton & Finger as its attorneys. The company entered the process with the support of its primary lender, Lynrock Lake Master Fund LP, it said in a statement on Monday. Edgio has entered into a stalking horse asset purchase agreement with Lynrock, which plans to buy assets in the amount of $110 million of the existing secured debt held by Lynrock. Lynrock's bid will set the floor at auction and is subject to better offers. Edgio owes Lynrock Lake $94.4 million, according to court papers. Under Lynrock's offer, the company would cancel that debt in exchange for ownership of Edgio. If a higher bid comes in at a court-authorized auction, Lynrock would be paid as much as $2 million to cover its expenses, Edgio said in a regulatory filing. The company, known as web application p
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EGIO
News
- Edgio launches strategic financial restructuring to facilitate sale and strengthen operations [Seeking Alpha]Seeking Alpha
- Apollo-Backed Software Maker Edgio Seeks Bankruptcy Protection [Yahoo! Finance]Yahoo! Finance
- Edgio, Inc. Launches Strategic Financial Restructuring to Facilitate Sale and Strengthen Operations [Yahoo! Finance]Yahoo! Finance
- Edgio, Inc. Launches Strategic Financial Restructuring to Facilitate Sale and Strengthen OperationsBusiness Wire
- 3 Media Stocks Worth Buying From a Prospering Industry [Yahoo! Finance]Yahoo! Finance
EGIO
Sec Filings
- 9/13/24 - Form 4
- 9/13/24 - Form 8-K
- 9/9/24 - Form 8-K
- EGIO's page on the SEC website