Company Secures Additional $7 Million in New Financing at Exit, Bolstering Financial Resources for Enhanced Market Leadership in The On-Site Power Generation Industry
LOS ANGELES, December 07, 2023–(BUSINESS WIRE)–Capstone Green Energy Holdings, Inc. (the “Company”), the public successor to Capstone Green Energy Corporation (Predecessor Capstone), announced the successful completion of the restructuring of the Capstone business and emergence from Chapter 11 bankruptcy.
At emergence the Capstone business has significantly reduced its indebtedness and obtained an additional $7 million of new money financing. As a result of the restructuring transactions, the Company will operate the Capstone business through a 62.5% controlling interest in a newly formed subsidiary. Further, the outstanding common stock of Predecessor Capstone has been canceled, and common stockholders of Predecessor…
