An announcement from Sonic Foundry (SOFO) is now available.
Sonic Foundry, Inc. is undergoing a significant financial restructuring after assigning a Receiver, Seth E. Dizard, who was approved by the Dane County Circuit Court to manage and potentially sell the company’s assets to repay creditors. Shareholders are warned they may not receive any returns and are advised to exercise caution, as the value of the company’s securities is highly uncertain during the receivership process. Moreover, the company has secured a post-petition loan with Mark Burish, offering him super-priority over Sonic Foundry’s assets, with the loan subject to specific conditions and covenants.
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