Kuwait-backed display developer Prysm has filed for chapter 11 bankruptcy, selling off some assets and handing over others to Kuwait’s sovereign-wealth fund as the company splits apart.
Prysm filed for bankruptcy in
the US Bankruptcy Court, citing liabilities of
$273.6 million and assets of $4.6
million USD.
ESW Capital LLC will buy
Prysm’s software business for $15 million
with a restructuring plan, with Prysm’s hardware
divisions and remaining assets to be
taken by lenders including the sovereign wealth
fund and the Kuwait investment authority.