Bankruptcy: IDEANOMICS, INC.

Form Type: 8-K

Filing Date: 2025-03-13

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000162828025012638

Filing Summary: On March 7, 2025, Ideanomics, Inc. and its subsidiaries filed for relief under Chapter 11 of the Bankruptcy Code. They have sought joint administration of their Chapter 11 Cases. An asset purchase agreement was previously established on December 4, 2024, wherein Ideanomics and its affiliates agreed to sell substantially all their assets to Tillou Management and Consulting LLC. The Bankruptcy Court authorized this Sale on February 26, 2025, and the transaction was completed on March 7, 2025. The sale proceeds will not benefit shareholders. Key financial obligations related to the sale were satisfied, including the repayment of loans. Post-sale, Shane McMahon resigned as Director and Executive Chairman, and Ryan Jenkins was terminated as CFO. Operations will be managed under a transition services agreement with the purchaser.

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