- Prospect Global Resources (OTC:PGRX) discloses that the Karlsson Group has said it would not extend the date to prepay the ~$155M the company owes under its senior secured debt.
- PGRX is now default, entitling Karlsson to foreclose on substantially all assets.
- PGRX says it has no cash available for operations, and the board and management are exploring alternatives, which may result in a bankruptcy filing.
Prospect Global has no cash to prepay debt, bankruptcy may loom
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| Symbol | Last Price | % Chg |
|---|---|---|
| PGRX | - | - |
| Prospect Global Resources, Inc. | ||