Summary: ProSomnus Inc reported a 28% revenue increase for Q1 2024, totaling $7.5 million, despite undergoing Chapter 11 restructuring. The company maintained over 99% on-time delivery rates and continued progress on strategic initiatives. ProSomnus’s RPMO2 Next Generation Remote … [Read more...]
ProSomnus Files for Chapter 11 Bankruptcy for Future Viability
Summary: ProSomnus Sleep Technologies Inc has filed for Chapter 11 bankruptcy as a strategic move to restructure its finances and secure its future. The company plans to reduce its debt by 60% and has arranged approximately $20 million in new financing from existing investors. … [Read more...]