BRIEF-Nogin Filed Voluntary Petitions To Commence Proceedings Under Chapter 11

Reuters2023-12-12

Dec 11 (Reuters) - Nogin Inc :

* NOGIN INC - ON DEC 5, 2023 CO AND CERTAIN OF ITS SUBSIDIARIES FILED VOLUNTARY PETITIONS TO COMMENCE PROCEEDINGS UNDER CHAPTER 11

* NOGIN INC - DEBTORS EXPECT THAT BANKRUPTCY COURT WILL APPROVE RELIEF SOUGHT IN THE MOTIONS

* NOGIN INC - ON DECEMBER 8, 2023, CO ENTERED INTO A SENIOR SECURED SUPER-PRIORITY DEBTOR-IN-POSSESSION LOAN AND SECURITY AGREEMENT

* NOGIN INC - UNDER DIP FACILITY DEBTORS MAY BORROW UP TO $24.7 MILLION

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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