Pluribus Technologies obtains CCAA protection amid liquidity crisis

Company

Pluribus Technologies Corp.

Law Firm / Organization
Miller Thomson LLP

Company

B. Riley Farber

Law Firm / Organization
Aird & Berlis LLP

Company

DIP lender

Law Firm / Organization
Cassels Brock & Blackwell LLP

Bank

National Bank of Canada

Law Firm / Organization
Thornton Grout Finnigan LLP

Company

Directors

Law Firm / Organization
Chaitons LLP

Pluribus Technologies Corp. (TSXV:PLRB) obtained CCAA protection on December 17, 2024, after defaulting on its National Bank credit agreement. A strategic review led by Canaccord Genuity Corp. resulted in two asset sales, repaying over $12 million, but $10.3 million and US$0.9 million remained due when forbearance ended on November 29, 2024. Facing a liquidity crisis, Pluribus sought CCAA to restructure and implement a Sale and Investment Solicitation Process (SISP). Evergreen Gap Debt GP is providing a DIP loan, with B. Riley Farber as monitor. Legal counsel includes Miller Thomson (companies), Aird & Berlis (monitor), Cassels (DIP lender), TGF (National Bank), and Chaitons (directors).

Other
Tech/Computer/IT
Undisclosed/Confidential
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