(Bloomberg) -- Lumio, a privately owned provider of residential solar panels, filed bankruptcy with a plan to sell its business to its primary lender, White ...
-- Lumio , a privately owned provider of residential solar panels, filed bankruptcy with a plan to sell its business to its primary lender, White Oak Global Advisors LLC.The Utah-based company filed Chapter 11 on Tuesday in Delaware listing assets and liabilities each of between $100 million and $500 million. The sale to White Oak is in the form of a $100 million credit bid, subject to better offers, Lumio said in a statement.
Lumio said its operations won’t be interrupted by the bankruptcy filing and that White Oak “intends to offer significant equity ownership to the company’s employees” if selected as the winning bidder. White Oak has also agreed to provide $8 million in Chapter 11 financing to fund the business during the bankruptcy, the company said.
The case is Lumio Holdings Inc, number 24-11916, in the US Bankruptcy Court for the District of Delaware.Need 100,000 Balloons for a Convention? Here’s the Guy to CallEndurance athlete and mountaineer Kilian Jornet has completed a remarkable feat by successfully climbing all 82 of the Alps' 4,000-metre peaks in just 19 days, all without the aid of any motorised vehicles.
ROYALMOUNT, Montreal's newest shopping, dining & entertainment destination, will open its doors to the public for the very first time this Thursday, September 5th, at 10 AM.Cleartide, an innovative and technical supplier in the water pump industry, announces the launch of its new series of condensate pumps—the ECNP 30 and ECNP 50. This groundbreaking product line includes four models that offer a maximum lift of 27 feet or 23.6 feet.
Lumio Bankruptcy Filing White Oak
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