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Technology & telecom coverage - ElevenFlo

Technology & telecom coverage

55 articles

Week of May 4, 2026

Fusion Connect Files Chapter 11; Debt-for-Equity Swap Eliminates $272M, Hands Company to First Lien Lenders

Fusion Connect, a cloud communications provider, filed chapter 11 in SDNY on June 3, 2019 with $691.5M of funded debt from two 2018 reverse mergers. An RSA reorganization eliminated $272M and transferred equity to first lien lenders; the $85M second lien tranche was wiped out.

Sungard AS: Second Chapter 11 and Three-Part Asset Sale

Sungard AS New Holdings filed a second chapter 11 in April 2022, three years after a prepackaged 2019 restructuring. The IT services company sold assets to 365 Data Centers and 11:11 Systems for $60M, confirmed a wind-down plan Oct. 17, 2022, with first lien lenders sustaining losses.

Week of April 27, 2026

Wiser Solutions: $90M Crestline Credit-Bid Sale Drives Chapter 11

Wiser Solutions, a retail-intelligence SaaS platform, filed chapter 11 in the Northern District of Texas on April 27, 2026. Crestline — senior lender, DIP lender, and stalking-horse affiliate — is positioned to acquire assets via a $90 million credit bid in a sale targeting June 23.

Week of April 6, 2026

Conscious Content Media: HOMER App Maker Targets $106M Debt Cut

Conscious Content Media filed chapter 11 on Dec. 17, 2025, proposing a $106M debt cut. HOMER parent backed by LEGO and Sesame faces EdTech funding decline.

Week of March 16, 2026

Eye Care Leaders: Ransomware, 363 Sale, Creditor Trust

Eye Care Leaders filed chapter 11 in the Northern District of Texas after ransomware fallout, customer attrition, and liquidity strain. The case centered on a fast section 363 sale and ended with a confirmed liquidating plan that transferred remaining assets into the ECL Creditor Trust.

Epic! Creations: Trustee-Run Chapter 11 Asset Sales

Epic! Creations, Tynker, and Osmo entered an involuntary Delaware chapter 11 tied to Byju's $1.2 billion term loan. A chapter 11 trustee ran the cases, sold the businesses, confirmed a wind-down plan in October 2025, and left prepetition term loan creditors with an estimated 2% to 5% recovery.

Broadband Telecom Wins Third Plan Exclusivity Extension Into 2027

A September 25, 2026 order extended Broadband Telecom's chapter 11 plan exclusivity into 2027. A September 4 motion described ongoing Rule 2004 examinations of its operations and counterparties.

Digital Media Solutions Completes $95M Credit Bid Sale

Digital Media Solutions completed a $95M lender credit-bid sale after its 2024 chapter 11 filing; BlackRock-led investors acquired the core business.

View Files Chapter 11 With Prepackaged Plan to Take Smart-Glass Maker Private

View’s Delaware prepack chapter 11 equitized lender claims, provided exit funding, and canceled existing equity in a fast go-private restructuring.

Desktop Metal: $179 Million Merger to $7 Million Sale

Desktop Metal filed chapter 11 117 days after Nano Dimension bought it for $179.3 million. A 64-day liquidation sold core assets for $7 million.

Wag!: 66-Day Prepack Chapter 11 Transfers Ownership

Wag\! Group Co. filed prepackaged chapter 11 in Delaware in July 2025 after SoftBank's $300M investment, a failed SPAC, and $69.5M in cumulative losses. Retriever LLC converted $16.3M in secured debt to 100% equity; the plan confirmed in 66 days with general unsecured creditors paid in full.

QLess: Subchapter V Restructuring Resolves Shareholder Litigation

QLess, a Pasadena-based SaaS queue management company, filed Subchapter V in Delaware in June 2024 amid $1M in shareholder litigation costs. Plan confirmed under §1191(b) cramdown in 90 days; $3.3M DIP converted to equity. Case closed by final decree March 2025.

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