Jul. 31 at 8:54 PM
$PNST Brutal, from the form 12b-25
"Current Report on Form 8-K filed on March 7, 2025, the Registrant had been actively pursuing potential alternative transactions simultaneously, including a possible sale of the Registrant or refinancing of its existing indebtedness. In that regard, the Registrant entered into a letter of intent (the “LOI”) with Oaktree Capital Management, L.P. in respect of a proposed recapitalization transaction on March 7, 2025. The LOI has since expired and terminated in accordance with its terms prior to the consummation of such recapitalization transaction. The Registrant continues to face a challenging liquidity situation and is in default under its senior secured credit agreements. The Registrant is continues to consider all of its alternatives given its current financial condition."
