The reported lender-backed restructuring would inject fresh capital and reduce the company's debt load through a prepackaged bankruptcy process.
Alkegen has reportedly reached a prepackaged bankruptcy deal with lenders that would bring in fresh capital and reduce its debt by approximately $3.1 billion. A prepackaged bankruptcy is a court-supervised restructuring in which a company negotiates terms with creditors before filing, typically aiming to move through the process faster and with more support than a traditional bankruptcy. The reported agreement points to a balance-sheet overhaul designed to stabilize the company while preserving operations.