Kovo+ forms special committee to weigh alternatives after secured lender default notice
Reuters2026/08/13 20:38- Kovo+ set up a board special committee to lead a strategic review tied to a default notice and repayment demand from secured creditor Avonlea Ventures #2.
- The committee will assess financing and transaction options linked to alleged events of default under the company’s Senior Loan and Security Agreement and secured promissory grid note.
- The company scheduled a special shareholder meeting for Oct. 1, 2026 to seek disinterested approval for any potential transaction with Avonlea Ventures #2.
- Chris Burch was named interim CEO while the company searches for a permanent chief executive.
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