BRIEF-Near Intelligence Files For Chapter 11 Protection & Enters Into Agreement To Sell Its Business

Reuters

Dec 09, 2023

Dec 8 (Reuters) - Near Intelligence Inc :

* NEAR INTELLIGENCE FILES FOR CHAPTER 11 PROTECTION AND ENTERS INTO AGREEMENT TO SELL ITS BUSINESS

* NEAR INTELLIGENCE INC - RECEIVES UP TO $16 MILLION IN DEBTOR-IN-POSSESSION FINANCING FROM ITS SECURED LENDERS

* NEAR INTELLIGENCE : UPON APPROVAL BY BANKRUPTCY COURT, DIP FINANCING IS EXPECTED TO PROVIDE NEAR WITH NECESSARY LIQUIDITY TO OPERATE IN NORMAL COURSE

* NEAR INTELLIGENCE INC: PRIOR TO CHAPTER 11 FILING, CO ENTERED INTO A "STALKING HORSE" ASSET PURCHASE AGREEMENT WITH BLUE TORCH

* NEAR INTELLIGENCE:ASSET PURCHASE AGREEMENT WITH BLUE TORCH TO ACQUIRE SUBSTANTIALLY ALL OF ASSETS OF CO IN FORM OF CREDIT-BID OF NOT LESS THAN $50 MILLION

((Reuters.Briefs@thomsonreuters.com;;))

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