PhaseBio Pharmaceuticals, Inc. filed a combined plan of liquidation and disclosure statement in the US Bankruptcy Court on July 7, 2023. As per the plan filed, administrative expense claims, DIP credit agreement claims of $15 million, priority tax claims, professional claims, statutory fees, priority non-tax claims of $0.02 million, secured claims of $0.03 million, shall be paid in full in cash. General unsecured claims of $26.92 million shall be recovered between 3.4%-3.6% and shall receive its pro rata share of distributable assets.

Equity interests shall be cancelled and shall not receive any distribution under the plan until all other claims are paid in full. The plan shall be funded through cash and sale of assets. PhaseBio Pharmaceuticals, Inc. filed solicitation version of combined plan of liquidation and disclosure statement in the US Bankruptcy Court on August 1, 2023.

As per the plan filed, there is no change in the treatment of any claim class.