Proterra’s plan of reorganization accepted by both voting classes

By Sarah Lizee

Olympia, Wash., March 4 – Proterra Inc.’s Chapter 11 plan of reorganization was accepted by both voting creditor classes, according to a tabulation summary filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Three holders of $183.57 million, or 100% in amount, voted to accept the plan.

Meanwhile, 91 holders, or 84.26% in number, of $29.4 million, or 68.43% in amount, of general unsecured claims voted to accept the plan, while 17 holders, or 15.74% in number, of $13.57 million, or 31.57% in amount, voted to reject the plan.

The plan hearing is set for March 5.

Burlingame, Calif.-based Proterra designs and manufactures zero-emission electric transit vehicles and EV technology solutions for commercial applications. The company filed bankruptcy on Aug. 7, 2023 under Chapter 11 case number 23-11120.

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