Alkegen Commences Prepackaged Chapter 11 Process to Implement Previously Announced Restructuring Support Agreement
Company enters chapter 11 with overwhelming support from key financial partners, including 99% of first lien and 80% of second lien holders
Expected to eliminate approximately $3.1 billion of debt and emerge with approximately $200 million of liquidity, positioning the company for continued industry leadership
Company secures $315 million in new money debtor-in-possession (“DIP”) financing to support ordinary course operations with no anticipated disruption to employees, customers, vendors, or partners
Alkegen (the “Company”), a leading specialty materials manufacturer, today announced that it has voluntarily commenced prepackaged chapter 11 cases in the U.S. Bankruptcy Court for the Northern District of Texas to implement the Restructuring Support Agreement ("RSA") that was previously announced on July 20, 2026.
