ConvergeOne has emerged from its prepackaged chapter 11 after using the case to delever its capital structure and recapitalize the operating business. The case began on April 4, 2024, when ConvergeOne Holdings and 16 affiliates filed chapter 11 petitions with a restructuring already supported by first- and second-lien stakeholders. The debtors attributed the filing to a highly leveraged balance sheet, higher interest expense, working-capital pressure, and softer capital spending; the first-day record described approximately $1.869 billion in funded debt, $21.4 million of cash, and $155 million of accounts payable as of the petition date first-day declarationDkt. 4.