Brief: Near Intelligence Files For Chapter 11 Protection & Enters Into Agreement To Sell Its Business

Near Intelligence

08/12/2023 20:47

Dec 8 (Reuters) - Near Intelligence Inc  NIR.O :
    * NEAR INTELLIGENCE FILES FOR CHAPTER 11 PROTECTION AND
ENTERS
INTO AGREEMENT TO SELL ITS BUSINESS
    * NEAR INTELLIGENCE INC - RECEIVES UP TO $16 MILLION IN
DEBTOR-IN-POSSESSION FINANCING FROM ITS SECURED LENDERS
    * NEAR INTELLIGENCE : UPON APPROVAL BY BANKRUPTCY COURT, DIP
FINANCING IS EXPECTED TO PROVIDE NEAR WITH NECESSARY LIQUIDITY
TO OPERATE IN NORMAL COURSE
    * NEAR INTELLIGENCE INC: PRIOR TO CHAPTER 11 FILING, CO
ENTERED
INTO A "STALKING HORSE" ASSET PURCHASE AGREEMENT WITH BLUE TORCH
    * NEAR INTELLIGENCE:ASSET PURCHASE AGREEMENT WITH BLUE TORCH
TO
ACQUIRE SUBSTANTIALLY ALL OF ASSETS OF CO IN FORM OF CREDIT-BID
OF NOT LESS THAN $50 MILLION


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