Impel Pharmaceuticals Inc., along with its affiliate, filed a joint plan of liquidation with related disclosure statement in the US Bankruptcy Court on February 12, 2024. As per the plan filed, Administrative Claims, Professional Fee Claims, Priority Tax Claims, U.S. Trustee Statutory Fees, Other Secured Claims, and Other Priority Claims shall be paid in full in cash. Prepetition Term Loan Claims shall receive in full its pro rata shares in full in cash from Distributable Cash and Contingent Sale Proceeds.

General Unsecured Claims shall receive its pro rata share of the General Unsecured Creditor Distribution. Intercompany Claims shall be reinstated. Existing Equity Interests shall be cancelled.

The plan shall be funded through cash in hand and asset sale.