Climate-Data Startup With All-Star Investors and Roots in Africa Nearly Collapses - WSJ: On Friday, the company told employees it would lay off 60% of its roughly 150-person staff and would be able to pay employees again after missing payroll earlier.
Pantera Raising Money to Buy $250 Million Solana Holding From FTX (SOL) - Bloomberg: Pantera Capital, the $5.2 billion crypto-focused asset manager, is raising money from large investors to buy deeply discounted Solana tokens from the estate of bankrupt digital-asset exchange FTX.
Calculated Risk: Wholesale Used Car Prices Declined in February; Down 13.1% Year-over-year: Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in February compared to January. The Manheim Used Vehicle Value Index (MUVVI) fell to 203.8, a decline of 13.1% from a year ago.
Bus Operator Coach USA Taps Financial Restructuring Advisers - WSJ: The private-equity-owned transportation provider is preparing for a balance sheet restructuring, potentially in bankruptcy
How a Group of Wine Buyers Saved Their Bottles From Liquidation - WSJ: Customers of defunct wine marketplace Underground Cellar fought for months to recover their wine. They won, if they are willing to pay up.
Emergent BioSolutions Enters Forbearance Agreement - WSJ: The company said in a regulatory filing Wednesday that the forbearance period would stretch from the effective date to at the latest April 30. The forbearance period may also end if there is a default event and the agreement’s administrative agent notifies the company of the period’s termination.
Space company Astra going private to avoid bankruptcy: Space company Astra will go private in a cut-rate deal with its founders after a dismal run as a publicly-traded stock.
So Far in 2024, Law Firms Are Building on Bankruptcy | The American Lawyer: Clifford Chance joins Morrison Foerster, Seyfarth Shaw and Selendy Gay in making restructuring hires in recent days
Beyond Inc. acquires Zulily brand for $4.5M | Retail Dive: The Overstock and Bed Bath & Beyond parent company purchased the online discount retailer to further position itself in the off-price market. The online discount women’s and apparel retailer ceased operations at the end of last year.
