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T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, October 7, 2023, Vol. 27, No. 279
Headlines
CYXTERA TECHNOLOGIES: Incurs $201 Net Loss in August
PLX PHARMA: OpCo Winddown Reports $122,550 Net Income in August
QUANERGY SYSTEMS: Net Loss Widens to $883,217 in August
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CYXTERA TECHNOLOGIES: Incurs $201 Net Loss in August
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Cyxtera Technologies, Inc., filed with the U.S. Securities and
Exchange Commission its monthly operating report for August 2023.
The Debtor's statement of operations reflected a net loss of $201
for the current reporting period.
As of August 31, 2023, the Debtor listed $11.86 million in total
assets, $103.07 million in total liabilities, and $114.92 million
in total shareholders' equity.
The Debtor started the month with $6,684 cash. It listed total
disbursements of $201. At month end, the Debtor had $6,484 cash.
A copy of the monthly operating report is available at the SEC at:
https://tinyurl.com/2znbspum
About Cyxtera Technologies
Headquartered in Coral Gables, Fla., Cyxtera Technologies, Inc. --
https://www.cyxtera.com/ -- is a global data center company
providing retail colocation and interconnection services. The
Company provides a suite of connected and automated infrastructure
and interconnection solutions to more than 2,300 enterprises,
service providers and government agencies around the world --
enabling them to scale faster, meet rising consumer expectations
and gain a competitive edge.
Cyxtera and its affiliates sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 23-14853) on
June 4, 2023. In the petition signed by Eric Koza, chief
restructuring officer, the Debtor disclosed up to $131 million in
assets and up to $2.679 billion in liabilities.
Judge John K. Sherwood oversees the case.
The Debtors tapped Kirkland and Ellis LLP and Kirkland and Ellis
International LLP as general bankruptcy counsel, Cole Schotz P.C.
as co-bankruptcy counsel, Guggenheim Securities, LLC as investment
banker, AlixPartners LLP as restructuring advisor, and Kurtzman
Carson Consultants LLC as noticing and claims agent.
An ad hoc group of first lien lenders is represented by Gibson,
Dunn & Crutcher LLP as legal counsel and Houlihan Lokey, Inc. as
financial advisor.
On June 20, 2023, the U.S. Trustee for Region 3 appointed an
official committee to represent unsecured creditors. The committee
tapped Pachulski Stang Ziehl & Jones, LLP as its legal counsel and
Alvarez & Marsal North America, LLC, as financial advisor.
PLX PHARMA: OpCo Winddown Reports $122,550 Net Income in August
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PLx Pharma Winddown Corp. and PLx Opco Winddown Corp. filed with
the U.S. Securities and Exchange Commission their monthly operating
reports for August 2023.
PLx Pharma Winddown's balance sheet for the August 2023 operating
report indicated zero assets and liabilities.
PLx Opco Winddown's statement of operations showed a net income of
$122,550 for August 2023.
As of August 31, 2023, PLx Opco Winddown listed $7.93 million in
total assets, $12.68 million in total liabilities, and -$4.74
million in total shareholders' equity.
PLx Opco Winddown started the month with $7,665,669 cash. It
listed $35,175 in total receipts and $182,033 in total
disbursements. PLx Opco Winddown had $7,518,811 cash at month
end.
Copies of the Debtors' monthly operating reports are available at
the SEC at:
https://tinyurl.com/387h3bpc
About PLx Pharma
PLx Pharma Inc. and PLx Opco Inc. are a commercial-stage drug
delivery platform technology company, focused on improving how and
where active pharmaceutical ingredients are absorbed in the
gastrointestinal tract, via its clinically-validated and
patent-protected PLxGuard technology.
PLx Pharma Inc. and PLx Opco filed voluntary petitions for relief
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case
No. 23-10456) on April 13, 2023. The petitions were signed by
Lawrence Perkins as chief restructuring officer. The Hon. Mary F.
Walrath oversees the cases.
As of Dec. 31, 2022, the company had $21,750,000 in total assets
against $12,285,000 in total liabilities.
Lawyers at Olshan Frome Wolosky LLP and Young Conaway Stargatt &
Taylor LLP serve as counsel to the Debtors; SierraConstellation
Partners serves as CRO Provider; Donlin, Recano & Company serves as
notice, claims, solicitation & balloting agent.
The Court approved the sale of substantially all of the Debtors'
assets to a stalking horse bidder in May 2023. The Sale closed on
May 26, 2023. Effective as of the closing of the Sale, the
Debtors' names have changed to:
FORMER NAME NEW NAME
----------- --------
PLx Pharma Inc. PLx Pharma Winddown Corp.
PLx Opco Inc. PLx Opco Winddown Corp.
QUANERGY SYSTEMS: Net Loss Widens to $883,217 in August
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Quanergy Systems, Inc., filed with the U.S. Securities and Exchange
Commission its monthly operating report for August 2023.
The Debtor's statement of operations showed a net loss of $883,217
for August, an increase from $514,826 net loss reported in July.
As of August 31, 2023, the Debtor listed $11.24 million in total
assets, $33.79 million in total liabilities, and -$22.55 million in
total shareholders' equity.
The Debtor started the month with $6,572,098 cash. It listed total
cash receipts of $287,669 and total disbursements of $355,788.
Thus, the Debtor had $6,503,979 cash at month end.
A copy of the monthly operating report is available at the SEC at:
https://tinyurl.com/33st8yab
About Quanergy Systems
Quanergy Systems, Inc., designs, develops and markets Light
Detection and Ranging (LiDAR) sensors and 3D perception software
solutions that enable intelligent, real-time detection, tracking
and classification of objects such as people and vehicles in
mission-critical markets such as security, smart cities and
industrial automation. The company is based in Sunnyvale, Calif.
Quanergy Systems sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Delaware Case No. 22-11305) on Dec. 13,
2022, with $10 million to $50 million in both assets and
liabilities. Larry Perkins, chief restructuring officer of
Quanergy Systems, signed the petition.
The Debtor tapped Young Conaway Stargatt & Taylor, LLP and Cooley,
LLP as bankruptcy counsels; Seward & Kissel, LLP as special
counsel; SierraConstellation Partners as restructuring advisor; FTI
Consulting, Inc. as financial Advisor; and Raymond James Financial,
Inc. as investment Banker. Bankruptcy Management Solutions, Inc.,
doing business as Stretto, Inc., is the claims, noticing and
solicitation agent.
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Troubled Company Reporter is a daily newsletter co-published
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