Zymergen asks court for extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Jan. 23 – Zymergen Inc. is seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

The company asked the court to extend the exclusive plan filing period through the earlier of the effective date of a plan and April 30, and the exclusive solicitation period through the earlier of the effective date of a plan and July 1.

The company has filed a plan already and has received approval of the disclosure statement. The plan hearing is currently set for Feb. 2.

The company said that although the hearing is weeks away, it is filing the exclusivity extension motion out of an abundance of caution to provide the debtors with enough time to achieve confirmation.

The Emeryville, Calif.-based biotech company filed bankruptcy on Oct. 3 under Chapter 11 case number 23-11661.

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