Pear Therapeutics files plan of liquidation with committee support

By Sarah Lizee

Olympia, Wash., March 5 – Pear Therapeutics, Inc. filed a Chapter 11 plan of liquidation and disclosure statement with the U.S. Bankruptcy Court for the District of Delaware on Monday.

The plan is being proposed by both the debtor and the official committee of unsecured creditors.

Under the plan, priority non-tax claims, other secured claims and WARN Act class settlement claims are unimpaired.

Holders of $24.79 million of general unsecured claims are expected to receive a recovery of about 21% via their pro rata share of liquidating trust interests or other treatment that the debtor or the liquidating trust, as applicable, and claimholders have agreed to.

Holders of subordinated claims and interests are expected to receive no recovery.

Boston-based Pear Therapeutics develops and commercializes software-based medicines called prescription digital therapeutics. The company filed bankruptcy on April 7, 2023 under Chapter 11 case number 23-10429.

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