VPX Sports gets shorter-than-requested exclusivity extension

By Sarah Lizee

Olympia, Wash., Feb. 6 – Vital Pharmaceuticals, Inc., which does business as VPX Sports, secured an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Feb. 3 with the U.S. Bankruptcy Court for the Southern District of Florida.

The court extended the exclusive plan filing period through May 8 and the exclusive solicitation period through July 10.

As previously reported, the company had asked to extend the exclusive plan filing period through June 7 and the exclusive solicitation period through Aug. 8.

The company said in its motion that its exclusivity shouldn’t be terminated because its transaction process allows for parties to submit a bid in the form of a plan of reorganization.

“If a party wants to propose a plan, they can do so within the process already being run by the debtors,” the company said.

“In contrast, ending the debtors’ exclusive periods would undermine the orderly transaction process that the debtors already have in place and that enjoys the support of its key economic constituents.”

The Pembroke Pines, Fla.-based the maker of Bang energy drinks and other products filed Chapter 11 bankruptcy on Oct. 10 under case number 22-17842.

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