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/raid1/www/Hosts/bankrupt/TCR_Public/240907.mbx T R O U B L E D C O M P A N Y R E P O R T E R Saturday, September 7, 2024, Vol. 28, No. 250 Headlines DELTA APPAREL: Reports Zero Net Loss in June DELTA APPAREL: Swings to $5.1 Million Net Loss in July EIGER BIOPHARMACEUTICALS: Posts $26.3 Million Net Income in July SHIFT TECHNOLOGIES: Ends July with $506,565 Cash SVB FINANCIAL: Posts $6,261 Net Income for July ********* DELTA APPAREL: Reports Zero Net Loss in June -------------------------------------------- Delta Apparel, Inc. filed with the U.S. Securities and Exchange Commission its monthly operating report for June. The Debtor's statement of operations reflected a net loss of $0 for the current reporting period. As of June 30, 2024, the Debtor listed $304.7 million in total assets, $127.9 million in total liabilities, and $$176.8 million in total shareholders' equity. The Debtor started the month with $1,075 cash. It listed $0 in total receipts and total disbursements. At month end, the Debtor had $1,075 cash. A copy of the monthly operating report is available at the SEC at: https://tinyurl.com/bde248rw About Delta Apparel Headquartered in Duluth, Georgia, Delta Apparel, Inc. -- https://www.deltaapparelinc.com -- is a vertically integrated, international apparel company with approximately 6,800 employees worldwide. The Company designs, manufactures, sources, and markets a diverse portfolio of core activewear and lifestyle apparel products under its primary brands of Salt Life, Soffe, and Delta. The Company specializes in selling casual and athletic products through a variety of distribution channels and tiers, including outdoor and sporting goods retailers, independent and specialty stores, better department stores and mid-tier retailers, mass merchants, eRetailers, the U.S. military, and through its business-to-business digital platform. Delta Apparel sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 24-11469) on June 30, 2024. In the petition signed by J. Tim Pruban, as chief restructuring officer, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. The Debtor is represented by Christopher A. Ward, Esq., at Polsinelli PC. DELTA APPAREL: Swings to $5.1 Million Net Loss in July ------------------------------------------------------ Delta Apparel, Inc. filed with the U.S. Securities and Exchange Commission its monthly operating report for July. The Debtor's statement of operations reflected a net loss of $5.1 million for the current reporting period. As of July 31, 2024, the Debtor listed $297.7 million in total assets, $271.2 million in total liabilities, and $$26.4 million in total shareholders' equity. The Debtor started the month with $1,075 cash. It listed $9.8 million in total receipts and total disbursements. At month end, the Debtor had $1,075 cash. A copy of the monthly operating report is available at the SEC at: https://tinyurl.com/5dwcyere About Delta Apparel Headquartered in Duluth, Georgia, Delta Apparel, Inc. -- https://www.deltaapparelinc.com -- is a vertically integrated, international apparel company with approximately 6,800 employees worldwide. The Company designs, manufactures, sources, and markets a diverse portfolio of core activewear and lifestyle apparel products under its primary brands of Salt Life, Soffe, and Delta. The Company specializes in selling casual and athletic products through a variety of distribution channels and tiers, including outdoor and sporting goods retailers, independent and specialty stores, better department stores and mid-tier retailers, mass merchants, eRetailers, the U.S. military, and through its business-to-business digital platform. Delta Apparel sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 24-11469) on June 30, 2024. In the petition signed by J. Tim Pruban, as chief restructuring officer, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. The Debtor is represented by Christopher A. Ward, Esq., at Polsinelli PC. EIGER BIOPHARMACEUTICALS: Posts $26.3 Million Net Income in July ---------------------------------------------------------------- Eiger BioPharmaceuticals, Inc. filed with the U.S. Securities and Exchange Commission its monthly operating report for July. The Debtor's statement of operations reflected a net income of $26.3 million for the current reporting period. As of July 31, 2024, the Debtor listed $65.6 million in total assets, $40 million in total liabilities, and $25.6 million in total shareholders' equity. The Debtor started the month with $31.7 million cash. It listed total cash receipts of $23 million and total disbursements of $6.4 million. At month end, the Debtor had $48.3 million cash. A copy of the monthly operating report is available at the SEC at: https://tinyurl.com/2wczx64p About Eiger BioPharmaceuticals Palo Alto, California-based Eiger BioPharmaceuticals, Inc., is a commercial-stage biopharmaceutical company focused on the development of innovative therapies for rare metabolic diseases. The company's shares traded on Nasdaq under the symbol "EIGR." Eiger BioPharmaceuticals Inc. and its subsidiaries sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case No. 24-80040) on April 1, 2024. In its petition, Eiger listed $38.8 million in assets and $53.1 million in liabilities as of the bankruptcy filing. Judge Stacey G. Jernigan oversees the cases. The Debtors are represented by Sidley Austin LLP as legal counsel, Alvarez & Marsal as financial advisor, and SSG Capital Advisors, LLC as restructuring investment banker. Kurtzman Carson Consultants LLC is the claims agent. SHIFT TECHNOLOGIES: Ends July with $506,565 Cash ------------------------------------------------ Shift Technologies, Inc. filed with the U.S. Securities and Exchange Commission its monthly operating report for July 2024. The Debtor's statement of operations reflected a net loss of $0 for the current reporting period. As of July 31, 2024, the Debtor listed $0 in total assets, total liabilities, and in total shareholders' equity. The Debtor started the month with $844,311 cash. It listed total cash receipts of $920 and total disbursements of $338,666. At month end, the Debtor had $506,565 cash. A copy of the monthly operating report is available at the SEC at: https://tinyurl.com/yu79yhwt About Shift Technologies Shift Technologies, Inc. is a consumer-centric omnichannel used car retailer. It operates the website www.shift.com and two locations in Oakland and Pomona, California. Shift Technologies and its affiliates filed Chapter 11 petitions (Bankr. N.D. Calif. Lead Case No. 23-30687) on Oct. 9, 2023. In the petitions signed by its chief financial officer, Jason Curtis, Shift Technologies disclosed up to $50,000 in assets and up to $500,000 in liabilities. Judge Hannah L. Blumenstiel oversees the cases. The Debtors tapped Thomas B. Rupp, Esq., at Keller Benvenutti Kim, LLP as legal counsel; AlixPartners, LLC as financial advisor; and Omni Agent Solutions, Inc. as claims and noticing agent. The U.S. Trustee for Region 17 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee is represented by Michael Sweet, Esq., at Fox Rothschild, LLP. SVB FINANCIAL: Posts $6,261 Net Income for July ----------------------------------------------- SVB Financial Group filed with the U.S. Securities and Exchange Commission its monthly operating report for July 2024. The Debtor's statement of operations reflected a net income of $6,261 for the current reporting period, compared to the $10.19 million net loss recorded for June. As of July 31, 2024, the Debtor listed $3.5 billion in total assets, $3.5 billion in total liabilities, and -$6.1 million in total shareholders' equity. The Debtor started the month with $233.6 million cash. It listed total cash receipts of $8.3 million and total disbursements of $11.3 million. At month end, the Debtor had $230.6 million cash. A copy of the monthly operating report is available at the SEC at: https://tinyurl.com/yufh3593 About SVB Financial Group SVB Financial Group is a financial services company focusing on the innovation economy, offering financial products and services to clients across the United States and in key international markets. Prior to March 10, 2023, SVB Financial Group owned and operated Silicon Valley Bank, a state-chartered bank. During the week of March 6, 2023, Silicon Valley Bank, Santa Clara, CA, experienced a severe "run-on-the-bank." On the morning of March 10, the California Department of Financial Protection and Innovation seized SVB and placed it under the receivership of the Federal Deposit Insurance Corporation. SVB was the nation's 16th largest bank and the biggest to fail since the 2008 financial meltdown. On March 17, 2023, SVB Financial Group sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case No. 23-10367). The Debtor had assets of $19,679,000,000 and liabilities of $3,675,000,000 as of Dec. 31, 2022. The Hon. Martin Glenn is the bankruptcy judge. The Debtor tapped Sullivan & Cromwell, LLP as bankruptcy counsel; Centerview Partners, LLC as investment banker; and Alvarez & Marsal North America, LLC as restructuring advisor. William Kosturos, a partner at Alvarez & Marsal, serves as the Debtor's chief restructuring officer. Kroll Restructuring Administration, LLC, is the claims and noticing agent and administrative advisor. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee tapped Akin Gump Strauss Hauer & Feld, LLP as bankruptcy counsel; Cole Schotz P.C. as conflict counsel; Lazard Freres & Co. LLC as investment banker; and Berkeley Research Group, LLC as financial advisor. ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA. Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2024. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR subscription rate is $975 for 6 months delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Peter A. Chapman at 215-945-7000. *** End of Transmission ***