Movella Holdings Inc. Completes Restructuring, Transfers 100% Equity of Movella to FP Shareholders
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Movella Holdings Inc. has completed its corporate restructuring, transferring 100% equity of Movella to FP Shareholders. The restructuring involved a Restructuring Agreement with FP Credit Partners and addressed defaults from a 2022 Note Purchase Agreement. Movella has been released from guaranty obligations, and FP Noteholders exchanged their obligations for equity and a new $50 million note. The company will rebrand as MVLA Holdings, Inc., with all prior equity holders retaining their stakes. An Earnout Agreement allows for future payments based on conditions over seven years.
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