Former Fast Radius receives final court approval to access cash collateral

By Sarah Lizee

Olympia, Wash., Jan. 20 – Legacy FSRD, Inc.’s, formerly Fast Radius, Inc.’s, motion seeking final approval to access cash collateral gained final approval from the U.S. Bankruptcy Court for the District of Delaware, according to an order filed Thursday.

As previously reported, parties Silicon Valley Bank (SVB) and SVB Innovation Credit Fund VIII, LP (SVB Capital) have interests in the collateral.

The cash collateral use had drawn an objection from the official committee of unsecured creditors, but the parties recently entered into a settlement agreement that resolves their disputes and is embodied in an amended Chapter 11 plan.

The company has also used the name ECP Environmental Growth Opportunities Corp. The Chicago-based cloud manufacturing and digital supply chain company filed bankruptcy on Nov. 7 under case number 22-11051.

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