On May 3, 2024, Nogin, Inc., a Delaware-incorporated company, and its operating subsidiary, Nogin Commerce, Inc., successfully completed a significant corporate restructuring under Chapter 11 of the U.S. Bankruptcy Code. This restructuring was confirmed by the U.S. Bankruptcy Court for the District of Delaware on March 28, 2024, and included the entry into an Equity Purchase Agreement with Nogin Holdings, LLC, designated by BRF Finance Co., the administrative agent for the lenders. The agreement facilitated the acquisition of reorganized equity interests in Nogin Commerce by the Purchaser in exchange for the consideration outlined in the agreement. As part of the restructuring plan, the company's common stock, along with related options and warrants, were canceled without value, and new equity in the...Show More

On May 3, 2024, Nogin, Inc., a Delaware-incorporated company, and its operating subsidiary, Nogin Commerce, Inc., successfully completed a significant corporate restructuring under Chapter 11 of the U.S. Bankruptcy Code. This restructuring was confirmed by the U.S. Bankruptcy Court for the District of Delaware on March 28, 2024, and included the entry into an Equity Purchase Agreement with Nogin Holdings, LLC, designated by BRF Finance Co., the administrative agent for the lenders. The agreement facilitated the acquisition of reorganized equity interests in Nogin Commerce by the Purchaser in exchange for the consideration outlined in the agreement. As part of the restructuring plan, the company's common stock, along with related options and warrants, were canceled without value, and new equity in the reorganized Nogin Commerce was issued to the Purchaser. The company's senior secured noteholders received a cash recovery and interests in two trusts, while general unsecured claims were addressed through interests in the Creditor Litigation Trust. Additionally, the indenture governing the 7.00% Convertible Senior Notes due 2026 was canceled. Nogin, Inc. has stated that it will not file any additional reports with the SEC following this restructuring.