Brief: Molekule Group Says Co, Molekule Inc Failed To Maintain Unrestricted And Unencumbered Cash With Svb Of At Least $2 Mln, Event Of Default Under Loan Deals
25/09/2023 13:11
Sept 25 (Reuters) - Molekule Group Inc MKUL.O :
* MOLEKULE GROUP - CO, MOLEKULE INC FAILED TO MAINTAIN
UNRESTRICTED AND UNENCUMBERED CASH WITH SVB OF AT LEAST $2
MILLION, EVENT OF DEFAULT UNDER LOAN DEALS
* MOLEKULE GROUP INC -CONTINUES TO HAVE DISCUSSIONS WITH SVB
FOR
REACHING DEAL PRIOR TO MAKING VOLUNTARY PETITION UNDER CHAPTER
11 OF US BANKRUPTCY CODE
Further company coverage: MKUL.O
((Reuters.Briefs@thomsonreuters.com;))
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