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An update from Edgio ( (EGIO) ) is now available.
Edgio, Inc., a platform known for security, speed, and simplicity, has voluntarily filed for Chapter 11 bankruptcy to facilitate a sale and revamp its operations. Supported by its lender Lynrock, Edgio has already secured a “stalking horse” asset purchase agreement for a credit bid of $110 million. Edgio plans to use a court-supervised sale process to maximize asset value while continuing its business operations. The company has also arranged for debtor-in-possession financing of approximately $15.6 million from Lynrock to maintain operations during the sale process.
Learn more about EGIO stock on TipRanks’ Stock Analysis page.