CANO - Why Is Primary Care Provider Cano Health Stock Trading Lower Today? | Benzinga
On Monday, value-based primary care provider Cano Health Inc (NASDAQ:CANO) entered into a Restructuring Support Agreement with lenders holding approximately 86% of its secured revolving and term loan debt and 92% of its senior unsecured notes.
This agreement enables Cano Health to reduce its debt. To facilitate this restructuring, Cano Health has initiated prearranged voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware.
It has also received a commitment for $150 million in new debtor-in-possession financing from certain of its existing secured lenders, subject to Court ...