💥New Chapter 11 Bankruptcy - Appgate Inc.💥

Cybersecurity business files prepackaged bankruptcy to equitize debt.

On May 6, 2024, Miami-based Appgate Inc. (“Appgate”) and 11 affiliates (collectively, the “debtors”) filed prepackaged chapter 11 bankruptcy cases in the District of Delaware (Judge Goldblatt). Appgate is a cybersecurity business that provides security solutions to over 660 enterprises and government agencies worldwide. The debtors went public in Oct. ‘21 via a SPAC with Newtown Lane Marketing, Incorporated. They currently trade over the counter under the ticker “APGT.”

Oooh cybersecurity! Sounds sexy!! Please tell us more, PETITION people!!! Sure, y’all. In layman’s terms, companies and governments hire the debtors to keep threats out of computer networks. They break their services down into four main tools: