The US Bankruptcy Court approved second revised first amended plan of liquidation of Impel Pharmaceuticals Inc. on April 2, 2024. The debtor has filed its second revised first amended plan in the Court on April 1, 2024. As per the amended plan, Administrative Claims, Professional Fee Claims, Priority Tax Claims, U.S. Trustee Statutory Fees, Other Secured Claims, and Other Priority Claims of $0.15 million shall be paid in full in cash.

Prepetition Term Loan Claims of $127.03 million shall receive in full its pro rata share in cash from Distributable Cash and Contingent Sale Proceeds. General Unsecured Claims of $4.3 million shall be recovered 2.3% i.e., $0.10 million of its pro rata share in cash. Intercompany Claims shall be reinstated.

Existing Equity Interests shall be cancelled. The plan shall be funded through cash in hand and asset sale.