The US Bankruptcy Court approved the Combined Disclosure Statement and Joint Chapter 11 Plan of reorganization of Fast Radius, Inc. on February 22, 2023. The debtor has filed its third revised combined disclosure statement and joint reorganization plan in the Court on February 7, 2023. As per the revised plan, administrative claims, priority tax claims, U.S. trustee fees, professional fee claims, other secured claims of approximately $0.5 million and other priority claims, shall be paid in full in cash.

SVB secured claims of $7.9 million shall be recovered full and shall receive of its distribution under sale order, prepetition lender distribution. SVB Capital secured claims of $16.7 million shall be recovered of $5.1 million and shall receive of its distribution under sale order, prepetition lender distribution. General unsecured claims in the range of $21 million to $24 million shall be recovered approximately in the range of 6% to 8% and shall receive its pro rata share of $0.75 million.

Intercompany claims & Intercompany interests shall be reinstated or cancelled, provided that no distributions shall be made under the plan. Interests in Debtor Fast Radius, Inc. shall be cancelled and shall not receive any distribution under the plan. Section 510(b) Claims shall be canceled, released, and expunged without any distribution.

The plan shall be funded through cash and sale of assets.