Case filing & court posture: Synthego Corporation filed chapter 11 on May 5, 2025 in the District of Delaware. Dkt. 24 Judge Mary F. Walrath presides over the case (No. 25-10823).
Liquidity & financing path: The debtor secured a $25 million DIP facility from Perceptive Credit Holdings III, LP comprising $15 million new money and $10 million roll-up of prepetition debt. Dkt. 40 The interim DIP order was entered on May 9, 2025. Dkt. 42
Restructuring outcome: The debtor pursued a sale of substantially all assets to Perceptive Credit Holdings III, LP as stalking horse bidder, with the auction held on June 26, 2025 and sale approval hearing on June 27, 2025. Dkt. 97 A liquidating plan was confirmed on August 5, 2025. Dkt. 209
Plan effective date & post-confirmation: The debtor's liquidating plan became effective and the company reorganized as Shapauste, Inc., a post-effective-date debtor conducting wind-down operations.
Current status: The case remains open with the post-effective-date debtor (Shapauste, Inc., f/k/a Synthego Corporation) administering the liquidating plan and pursuing wind-down activities as of February 2026.
