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Bright Green to file for bankruptcy to reorganize business while continuing operations

Bright Green Corporation is undergoing a major restructuring, led by its new CEO and Chairman, Lynn Stockwell. On January 21, 2025, the company entered into a Restructuring Support Agreement (RSA) with Stockwell, who is a major shareholder. As part of this plan, Bright Green will file for Chapter 11 bankruptcy, allowing it to reorganize its business while continuing operations.

Stockwell sees this as a fresh start. She explained that Bright Green was in a unique position to research and manufacture legal controlled substances under strict U.S. government regulations. However, financial difficulties arose due to past globalization policies that favored overseas manufacturing and an immigration policy that blocked funding from the company's EB-5 investment program.

Now, with a new administration prioritizing U.S.-based drug production, Stockwell believes Bright Green has an opportunity to thrive. The company is moving forward with a $3.5 billion investment plan to build large-scale DEA- and FDA-compliant production facilities. These "mega farms" will focus on manufacturing controlled substances for the pharmaceutical supply chain. The plan is expected to create thousands of jobs and revive the company's EB-5 program, which allows legal immigrants to invest in U.S. businesses. Bright Green will also maintain its partnership with Asia Capital Pioneer Group Inc. to promote EB-5 investment opportunities across Asia.

As part of the restructuring, Stockwell will provide financial support through an Exit Facility, which will fund the company's reorganization. Bright Green will use this to repay all approved administrative and professional fee claims in full. Additionally, a secured note held by Stockwell will be converted into the Exit Facility and repaid under its terms. The company's unsecured creditors will receive 20% of their claims in cash and 80% in newly issued common stock. Existing shareholders will retain ownership but will undergo a 1-for-50 reverse stock split to limit dilution. To streamline its financial obligations, Bright Green will cancel all outstanding company warrants and contracts.

Bright Green will soon file for Chapter 11 bankruptcy in Florida, a process that will be overseen by the court. Despite this, the company expects operations to continue as usual. Once the restructuring is complete, Bright Green will rebrand as Drugs Made in America Corp., with a leadership team focused on domestic drug manufacturing, investment programs, and supply chain management.

This transformation aims to position the company as a leader in U.S.-based pharmaceutical production, aligning with national priorities for drug manufacturing and economic growth.

For more information:
Bright Green
www.brightgreen.us

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