Wave Computing and MIPS Technologies Reach Agreement to Exit Bankruptcy
Company expects to exit bankruptcy in January 2021 pending creditor and court approval of Tallwood-led reorganization plan
News provided by
Share this article
Share this article
SANTA CLARA, Calif., Dec. 28, 2020 /PRNewswire/ Wave Computing, Inc. ( Wave or the Company ), the processor technology company focused on the commercialization of RISC processor architectures and IP cores, and its subsidiaries including MIPS Tech, today announced that the Company has reached an agreement with its secured lender Tallwood Technology Partners, LLC ( Tallwood ) to restructure the Company s current capital structure and provide substantial recovery to the Company s unsecured creditors via amendments to the Company s proposed Chapter 11 plan of reorganization. The Company commenced an auction on December 21, 2020 seeking the highest or otherwise best offer to restructure or purchase the Company s business, and, after