AeroCision receives 90-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Dec. 7 – AeroCision Parent, LLC secured a 90-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the exclusive plan filing period through Feb. 26 and the exclusive solicitation period through April 26.

As background, the company filed bankruptcy in July with a pre-packaged plan of reorganization in hand but later pivoted to a sale of its assets.

The company said that as part of the sale of its assets to Cadence-Southwick, Inc. for $40.2 million, which closed on Tuesday, it negotiated a wind-down budget with its prepetition lenders. AeroCision said this will allow the debtors to file a Chapter 11 plan of liquidation soon.

The Chester, Conn.-based company is a supplier of complex engine components and assemblies for the global aerospace industry. It filed bankruptcy on July 31 under Chapter 11 case number 23-11032.

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