ed3/6me
6 months ago
Explanatory Note: This Amendment No. 1 (βAmendment No. 1β), which amends the Schedule 13D filed with the Securities and Exchange Commission (the βSECβ) on January 23, 2023 (the βOriginal Schedule 13Dβ) is being filed on behalf of Foundry Group Next, L.P. (βFoundryβ), FG Next GP, L.L.C. (βFoundry GPβ), Brad Feld (βFeldβ), Seth Levine (βLevineβ), Ryan McIntyre (βMcIntyreβ), Lindel Eakman (βEakmanβ) and Chris Moody (βMoodyβ and with Feld, Levine, McIntyre and Eakman, the βManaging Membersβ) (collectively, the βReporting Personsβ) in respect of the Common Stock, par value $0.01 per share (βCommon Stockβ) of Molekule Group, Inc., a Delaware corporation (the βIssuerβ). This Amendment No. 1 is being filed for the purpose of reporting the disposition of the securities of the Issuer by the Reporting Persons in connection with Issuerβs Chapter 11 reorganization. The Original Schedule 13D is hereby amended and supplemented to the extent hereinafter expressly set forth and, except as amended and supplemented hereby, the Original Schedule 13D remains in full force and effect. All capitalized terms used in this Amendment but not defined herein shall have the meanings ascribed thereto in the Original Schedule 13D.
Item 4. Purpose of Transaction
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following at the end of Item 4:
On October 3, 2023, the Issuer and Molekule Group, a Delaware corporation which is a holding company (collectively, the βDebtorsβ) filed voluntary petitions (the βChapter 11 Casesβ) in the United States Bankruptcy Court for the Southern District of Florida West Palm Beach Division (the βBankruptcy Courtβ) seeking relief under Chapter 11 of Title 11 of the United States Code. On February 5, 2024, the Bankruptcy Court entered an order confirming (the βConfirmation Orderβ) the Debtorsβ Debtorsβ Modified Amended Joint Plan of Reorganization (the βPlanβ), dated as of December 22, 2023, and on February 20, 2024, the Plan became effective. Pursuant to the Plan, all outstanding stock of the Issuer was cancelled for no consideration and the business of the Issuer was continued in a newly formed reorganized corporation (βNew Molekuleβ). Foundry, as a provider of debtor-in-possession financing to the Issuer, received a portion of the equity of New Molekule.
81vette
11 months ago
bk good,everything frozen,no dilution/printing os/insiders selling,sometimes bk rocket up,MKUL has 22m sales,buyout/reorganize?,i wont be in after the 12th tho,stuck in a Q or delist sucks