RevitaLid’s prepackaged restructuring had final financing approval as of November 9, 2023: the DIP financing order Dkt. 88 authorized cash-collateral use and an additional draw of up to $10 million. The contemplated next step was confirmation of a plan exchanging approximately $80.1 million of secured debt for equity while leaving general unsecured creditors unimpaired, as described in the first-day declaration Dkt. 22.

RevitaLid Pharmaceutical Corp. had final authority to use cash collateral and obtain DIP financing as of November 9, 2023, supporting its proposed prepackaged restructuring. The final DIP order Dkt. 88 authorized an additional draw of up to $10 million following an initial $7.5 million availability, subject to the order and loan documents. Athyrium Opportunities IV Co-Invest 1 LP was the lender; the financing carried priming liens and a superpriority claim, with weekly budget-variance reporting required. The authorization does not establish that the additional funds were drawn.

RevitaLid and affiliates RVL Pharmaceuticals, Inc. and RVL Pharmacy, LLC filed Chapter 11 petitions on October 12, 2023. The first-day declaration Dkt. 22 described a business centered on Upneeq, an FDA-approved nonsurgical treatment for acquired blepharoptosis in adults, constrained by limited capital and pharmaceutical-market pressures. A five-month sale process involving 82 potential investors and an August 2023 equity offering preceded a missed quarterly interest payment and an October 3 minimum-liquidity covenant breach. The debtors entered Chapter 11 with approximately $6.6 million in cash, all constituting cash collateral.

The restructuring described in the first-day declaration Dkt. 22 proposed equitizing approximately $80.1 million of secured debt, giving the prepetition agent 97.5% of the equity in a new entity and allocating the remaining equity to holders of stock-purchase-agreement rejection claims. General unsecured creditors would remain unimpaired, and the debtors sought to preserve approximately 100 jobs and most executory contracts. The financing package contemplated $17.5 million of DIP financing, conversion of that facility at emergence, and $7.5 million of additional exit financing. Plan confirmation and effectiveness were the contemplated path to implementing that ownership and capital structure.

RevitaLid’s prepackaged restructuring had final financing approval as of November 9, 2023: the DIP financing order Dkt. 88 authorized cash-collateral use and an additional draw of up to $10 million. The contemplated next step was confirmation of a plan exchanging approximately $80.1 million of secured debt for equity while leaving general unsecured creditors unimpaired, as described in the first-day declaration Dkt. 22.

RevitaLid Pharmaceutical Corp. had final authority to use cash collateral and obtain DIP financing as of November 9, 2023, supporting its proposed prepackaged restructuring. The final DIP order Dkt. 88 authorized an additional draw of up to $10 million following an initial $7.5 million availability, subject to the order and loan documents. Athyrium Opportunities IV Co-Invest 1 LP was the lender; the financing carried priming liens and a superpriority claim, with weekly budget-variance reporting required. The authorization does not establish that the additional funds were drawn.

RevitaLid and affiliates RVL Pharmaceuticals, Inc. and RVL Pharmacy, LLC filed Chapter 11 petitions on October 12, 2023. The first-day declaration Dkt. 22 described a business centered on Upneeq, an FDA-approved nonsurgical treatment for acquired blepharoptosis in adults, constrained by limited capital and pharmaceutical-market pressures. A five-month sale process involving 82 potential investors and an August 2023 equity offering preceded a missed quarterly interest payment and an October 3 minimum-liquidity covenant breach. The debtors entered Chapter 11 with approximately $6.6 million in cash, all constituting cash collateral.

The restructuring described in the first-day declaration Dkt. 22 proposed equitizing approximately $80.1 million of secured debt, giving the prepetition agent 97.5% of the equity in a new entity and allocating the remaining equity to holders of stock-purchase-agreement rejection claims. General unsecured creditors would remain unimpaired, and the debtors sought to preserve approximately 100 jobs and most executory contracts. The financing package contemplated $17.5 million of DIP financing, conversion of that facility at emergence, and $7.5 million of additional exit financing. Plan confirmation and effectiveness were the contemplated path to implementing that ownership and capital structure.