The US Bankruptcy Court approved the revised combined plan of reorganization of Winc, Inc. on August 3, 2023. The debtor has filed its revised combined plan of reorganization with related disclosure statement in the US Bankruptcy Court on August 1, 2023. As per the plan filed, administrative claims, US Trustee fees, professional fee claims, priority tax claims, priority non-tax claims of $0.24 million and secured claims shall be paid in full in cash.

General Unsecured Claims of $15.71 million shall be recovered 6%, i.e., $0.94 million in cash and no distribution shall be made towards intercompany claims. Interests in Winc and Interests in Winc Lost Poet shall be cancelled and Interests in BWSC shall receive no distribution. The plan shall be funded through cash in hand and sale of assets. Upon the Effective Date, Interests in Reorganized Winc will automatically vest in, and be assigned to, Reorganized Winc; and the New Common Stock in Reorganized Winc will automatically vest in, and be issued to, the Creditor Trust.