Timber Pharmaceuticals, Inc., along with its affiliates, filed a combined joint plan of liquidation and disclosure statement in the US Bankruptcy Court on February 27, 2024. As per the plan filed, administrative claims, fee claims, tax claims, other secured claims, other priority claims of $1000, shall be paid in full in cash. General unsecured claims of $1.53 million shall be recovered 11.1% i.e., $0.17 million and shall be paid pro rata share of cash.

Subordinated claims shall not receive any distribution under the plan. Interests shall be cancelled. Intercompany claims and intercompany interests shall be adjusted, continued, settled, reinstated, discharged or eliminated.

The plan shall be funded through cash and sale of assets. Trex Wind-down, Inc, along with its affiliates, filed revised combined joint plan of liquidation and disclosure statement in the US Bankruptcy Court on March 18, 2024. As per the revised plan filed, there is no change in the treatment of any claim class.

Trex Wind-down, Inc, along with its affiliates, filed second revised combined joint plan of liquidation and disclosure statement in the US Bankruptcy Court on March 20, 2024. As per the revised plan filed, there is no change in the treatment of any of the claim class.