Procaps Group (PROC) has released an update.
Procaps Group has announced a significant milestone in its financial restructuring, having secured forbearance agreements on $209 million of debt and receiving a $5 million investment from its controlling shareholders. These steps are part of the company’s broader strategic plan, which includes an internal investigation to ensure accurate financial reporting, and the development of a comprehensive debt restructuring plan with the help of FTI Consulting, Inc. Despite current liquidity pressures, Procaps is focused on achieving long-term financial health and sustainable growth.
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