Vewd Software, the leading provider of OTT software solutions, this week announced the U.S. Bankruptcy Court’s approval of its Plan of Reorganization, paving the path for accelerated growth in the next phase of its business plan.
Vewd's financial restructuring efforts will eliminate the vast majority of Vewd’s debt and position Vewd for long-term growth with the backing of a healthy balance sheet and new ownership.
Under the Plan, Vewd’s pre-petition secured lenders will exchange their existing debt for equity in the reorganized business and provide new capital to effectuate Vewd’s growth plan. Furthermore, the Plan provides for payment in full to all trade vendors and resolves any potential disputes brought upon Vewd by its previous owners.
Vewd’s CEO Aneesh Rajaram
We are eager to put our growth plans into action following the completion of our expedited financial restructuring. Aligned and well capitalized with our new owners, we will be optimally positioned to accomplish our mission to enable entertainment everywhere and achieve long-term success. Our next phase will be highlighted by strategic investments in new products and solutions, which will allow us to better meet our customers’ priorities as we together navigate this highly dynamic and fast paced industry.
