Zapata Computing Holdings Shares Drop 56% on Liquidation News

Dow Jones10-12

By Stephen Nakrosis

Shares of Zapata Computing Holdings were falling in the after-hours market following news the company will terminate operations.

Zapata said Friday its board approved the termination of all employees, save for a few who will conduct the winding down operations. The company said its financial obligations are more than the fair market value of its assets.

Further, the company said it didn't expect to initiate bankruptcy proceedings or seek stockholder approval for the cessation of operation.

After the bell, shares had fallen 56% to trade at 11 cents. The stock finished the day's regular trading session with a 7.8% gain, closing at 26 cents per share.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 11, 2024 17:52 ET (21:52 GMT)

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