Case filing & court posture: Accelerate Diagnostics, Inc. and its subsidiary filed chapter 11 petitions on May 8, 2025, in the District of Delaware (Case No. 25-10837) before Judge Karen B. Owens. Dkt. 1 The Tucson, Arizona-based medical diagnostics company carried approximately $94.3 million in funded debt, including $21.95 million in Super Priority Notes and $72.3 million in Convertible Notes.
Liquidity & financing path: The debtors obtained a $36.9 million DIP facility from Indaba Capital Management, comprising $12.5 million in new money and a $24.4 million roll-up of prepetition notes. Dkt. 13 The court entered an interim DIP order on May 12, 2025 Dkt. 72 and a final DIP order on June 5, 2025. Dkt. 149
Restructuring outcome: Substantially all assets were sold via a 363 sale to stalking horse bidder AST Revolution (an Indaba Capital affiliate) through a $41.95 million credit bid after the auction was cancelled for lack of competing bids. Dkt. 202 The sale order was entered on July 14, 2025. Dkt. 219
The court confirmed the Second Amended Combined Disclosure Statement and Chapter 11 Liquidating Plan on August 13, 2025, with Ankura Trust Company, LLC appointed as liquidating trustee. The plan became effective on August 20, 2025.
Current status: The case remains open in post-confirmation administration. The liquidating trustee and AST Revolution have entered into multiple stipulations extending deadlines to file administrative expense claims, with the eleventh such stipulation entered in February 2026. Dkt. 338