Case filing & court posture: Viridos, Inc., a pre-revenue biotechnology company developing algae-based biofuels, filed a chapter 11 petition on April 14, 2025 in the U.S. Bankruptcy Court for the District of Delaware (Case No. 25-10697). Dkt. 1 Judge Craig T. Goldblatt presides. The company initially filed under Subchapter V but amended to a standard chapter 11 case three days later. Dkt. 26
Liquidity & financing path: The debtor obtained DIP financing of up to $6.65 million from prepetition secured lender Breakthrough Energy Ventures II, L.P., with interim approval on April 17, 2025 Dkt. 36 and final approval on May 8, 2025. Dkt. 94 The court simultaneously approved bidding procedures for a sale of substantially all assets, designating BEV as the stalking horse bidder. Dkt. 95
Sale process & outcome: No competing bids were received and the auction was cancelled. Dkt. 123 On June 17, 2025, the court approved the sale of substantially all assets to BEV via a $5.95 million credit bid, free and clear of liens, claims, and encumbrances. Dkt. 161
Wind-down & professional fees: Following the sale closing, the debtor wound down operations and all professionals received final fee allowances. Dkt. 274 The debtor filed a motion to dismiss the case on September 10, 2025. Dkt. 237
Current status: The chapter 11 case was dismissed by order entered November 26, 2025, with all prior orders (including the DIP and sale orders) remaining in full force and effect. Dkt. 282
