Linqto Files Bankruptcy Amid Legal Probes and Corporate Structure Issues
2025-07-09 01:50:05
Main Idea
Linqto, an investment platform for private pre-IPO companies, filed for Chapter 11 bankruptcy due to regulatory probes and corporate structure issues, while its CEO aims to restructure and protect $60 million in debtor-in-possession financing.
Key Points
1. Linqto filed for voluntary Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District, involving Linqto Inc. and affiliated entities.
2. The filing aims to protect $60 million in debtor-in-possession financing and address regulatory investigations, including by the SEC.
3. CEO Dan Siciliano stated the bankruptcy is a strategic move to restructure and resolve legal and operational challenges.
4. Ripple CEO Brad Garlinghouse clarified that Linqto's bankruptcy is unrelated to Ripple or XRP, distancing the company from the situation.
5. Jeffrey S. Stein of Breakpoint Partners was appointed as Chief Restructuring Officer to oversee the bankruptcy process.
Description
Linqto’s Chapter 11 bankruptcy filing exposes deep structural flaws and regulatory pressure that could upend investor ownership rights and rattle confidence in private equity access platforms. Linqto’s Chapter 11 Filing Sparks Questions Over Private Equity Ownership Rights Mounting legal pressures and structural flaws have pushed Linqto into a high-stakes reorganization that could reshape investor exposure
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