Marin Software Incorporated has announced a strategic financial reorganization aimed at strengthening its financial position and facilitating long-term growth and profitability. The company has entered into an agreement with Kaxxa Holdings, Inc., a strategic investor, which will provide $5.5 million in funding. This will enable Marin to repay all known creditors and distribute funds to stockholders. To implement this transaction, Marin has voluntarily initiated a "pre-negotiated" chapter 11 case in the United States Bankruptcy Court for the District of Delaware. The company expects the reorganization plan to be confirmed within approximately 60 days. During this process, Marin will remain fully operational, ensuring no impact on its customers or the innovative platforms they rely on. This initiative aligns with Marin's strategic focus on advancing in the AI age and providing enhanced services to its global customer base.
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