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Cloud Storage Co. Gets OK For $3M DIP Loan To Pursue Sale

Law360, Wilmington (July 11, 2018, 8:53 PM EDT) -- Cloud-based storage technology firm Tintri Inc. received interim approval Wednesday from a Delaware bankruptcy judge to tap into $2.95 million in debtor-in-possession financing to fund a marketing process with the hope of completing a going-concern sale of its assets.

During a first-day hearing in Wilmington, debtor attorney John D. Fiero of Pachulski Stang Ziehl & Jones LLP said prepetition second-lien secured lender TriplePoint Capital LLC would be providing the post-petition loan to help fund the Chapter 11 case, with a total of $5.5 million of new...
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