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Serial sapphire plugins9/17/2023 ![]() Though it is filing for voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the District of Delaware, the company says it will ‘continue operating and serving customers in the normal course.’ That normal course has so far seen the company harness Digital Light Synthesis, Multi Jet Fusion and Fused Deposition Modelling – in addition to subtractive methods – to manufacture products in the automotive, aerospace and consumer goods industries. The company’s board has taken the decision to file for bankruptcy after ‘recent headwinds in the capital markets’ have hindered the company’s capacity to ‘put in place the capital structure needed.’ It comes just nine months after Fast Radius listed on the NASDAQ stock exchange, which it announced in July 2021, and a wave of redundancies that commenced in the summer. Company says it will continue operating and serving customers in the normal course.Customary motions have been requested for the court to authorise Fast Radius' ability to pay employees. ![]() Fast Radius has requested the court establish certain sale and marketing procedures discussions are ongoing with one or more potential partners.Fast Radius has filed for Chapter 11 bankruptcy, launching an in-court process to effectuate one or more strategic transactions.
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