Enzolytics Inc (ENZC)

[art35]

. On December 22, 2020 the Company entered into debt exchange agreements with Seacor Capital, Inc., Sky_Direct, LLC and Matthew Stout

whereby the balance of their outstanding notes and accrued interest were exchanged for Preferred Series C shares of ENZC extinguishing the debt obligation.

As a result of the reorganization, in accordance with Section 251(g) of the DGCL, the remaining previous convertible debt of ENZC is debt of the Predecessor and convertible into shares of the non-public subsidiary rather than the Parent.

The non public subsidiary can/could/possibly be spun off in an IPO later down the road---IMHO