Articles from Solar Mosaic

Solar Mosaic (the “Company” or “Mosaic”), a fintech platform for U.S. residential solar and energy-efficient home improvements, announced that the United States Bankruptcy Court for the Southern District of Texas (the “Court”) has approved its Chapter 11 Plan of Reorganization (the “Plan”), which allows for the recapitalization of the loan servicing operation (the “Reorganization Transaction”) by Solar Servicing LLC (“Solar Servicing”), a wholly owned subsidiary of Forbright Bank, the Company’s prepetition lender.

Solar Mosaic (the "Company" or "Mosaic"), a fintech platform for U.S. residential solar and energy-efficient home improvements, today announced the Company filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court for the Southern District of Texas (the “Court”). Through the Chapter 11 process, Mosaic intends to complete a restructuring and recapitalization supported by certain of the Company’s existing lenders, including Forbright Bank (“Forbright”) acting as Administrative Agent on behalf of lenders, while simultaneously conducting a comprehensive marketing process of its platform and other assets of the Company.