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Cano Health (CANOQ) has issued an update.
Upon initiating Chapter 11 proceedings, the company sought to secure the value of its net operating loss carryforwards (NOLs) through a Bankruptcy Court-approved order. This Final NOL Order imposes restrictions on the trading and transfer of the company’s Class A common stock to prevent dilution of the NOLs’ worth. Specifically, it targets “Substantial Stockholders,” individuals or groups owning significant shares, and includes potential penalties for unauthorized transactions. This move is part of a broader strategy to reduce debt and improve financial stability, alongside securing a $150 million credit agreement to support operations during the restructuring. Investors are reminded that trading in the company’s securities is speculative and risky during the Chapter 11 process.
Learn more about CANOQ stock on TipRanks’ Stock Analysis page.
