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Marin Software Incorporated (OTC Expert Market:MRINQ) announced Friday it has emerged from Chapter 11 bankruptcy protection, following the effectiveness of its court-approved reorganization plan. The company stated in a press release that the United States Bankruptcy Court for the District of Delaware entered an order confirming the plan on August 29, 2025, and the plan became effective Friday.
Under the terms of the reorganization plan, all outstanding shares of Marin Software’s common stock, including shares issuable under equity awards and one share of Series A Preferred Stock, were cancelled and discharged as of the effective date. Holders of cancelled equity interests are anticipated to receive a distribution on a pro rata basis, after the anticipated provision of full cash recoveries to all holders of allowed claims.
Following the restructuring, 1,000 shares of new equity in the reorganized company were issued. Of these, 600 shares were issued to YYYYY, LLC, the debtor-in-possession lender, through conversion of its allowed DIP facility claim. Kaxxa Holdings, Inc., the plan sponsor, acquired 400 shares of the new equity.
As part of the process, Marin Software filed post-effective amendments to its registration statements and intends to file a Form 15 with the Securities and Exchange Commission to deregister its securities and suspend its reporting obligations under the Securities Exchange Act of 1934.
The company also reported that, pursuant to the plan, all existing directors and officers resigned as of the effective date.
This information is based on a statement in the company’s SEC filing on Form 8-K.
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