Jervois Global (ASX:JRV) said the firm and certain of its affiliates initiated the prepackaged US Chapter 11 Proceedings, according to a Wednesday Australian bourse filing.
It added that its shares were suspended from trading on the Australian Securities Exchange, as well as in Canada and the US, as it undergoes the proceedings.
According to a Jan. 15 filing, the company reached a funding and recapitalization agreement with Millstreet Capital Management. This agreement will provide $145 million of new pre- and post-recapitalization equity capital to fund the business.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.