Nogin Shares Rise 16%, Operations to Continue During Bankruptcy Proceedings

Dow Jones2023-12-07

By Ben Glickman

Shares of Nogin rose after the company said operations would continue uninterrupted during bankruptcy proceedings.

The stock was up 16% to 21 cents in after-hours trading Wednesday following a 5.9% slide at the close. Shares are down 99% this year.

The New York-based e-commerce technology company said B. Riley Financial was providing a stalking horse bid and debtor-in-possession financing.

Nogin said there would be no interruption to service while it restructures. The financial reorganization would add stability and allow for future growth, according to the company.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

December 06, 2023 17:44 ET (22:44 GMT)

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