Marin Software Initiates Restructuring Plan with Kaxxa Holdings to Strengthen Financial Position and Enter AI Age
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Marin Software has initiated a restructuring plan in collaboration with Kaxxa Holdings to enhance its financial position and support long-term growth. The agreement includes $5.5 million in funding to repay creditors and distribute funds to stockholders. Marin has filed for a pre-negotiated chapter 11 case in Delaware, expecting confirmation of the plan within 60 days. The company will remain operational during this process, focusing on advancing in the AI sector and maintaining service for its customers.
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