Molekule files voluntary petition in United States Bankruptcy Court in Florida

In a regulatory filing, Molekule Group reports that the company and its wholly-owned subsidiary, Molekule, Inc., filed a voluntary petition in the United States Bankruptcy Court for the Southern District of Florida for relief under the provisions of Chapter 11 of Title 11 of the United States Code. The company’s case will be administered under the caption In re Molekule Group, Inc., Case No: 23-18094. The company will continue to operate its business as a debtor in possession, or “DIP,” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. To ensure its ability to continue ordinary course operations during the Chapter 11 Case, the company will file with the Bankruptcy Court motions seeking a variety of customary “first-day” relief including DIP Financing, the filing stated.