Big Screen Maker Prysm Opens $274M Ch. 11 Eyeing Sale
Law360 (August 6, 2020, 10:56 AM EDT) — California-based, big screen software and display maker Prysm Inc. opened a sell-all, prepackaged Chapter 11 in Delaware, reporting $4.6 million in assets against $273.6 million in liabilities and naming Texas-based private equity ESW Capital as the buyer.
Prysm develops large-format displays that rely on lasers and moving mirrors to trigger lighting of phosphorescent materials, rather than liquid crystals or cathode ray tubes. The company’s devices and software allow interactive sharing of large amounts of data among large numbers of remote users.
Company CEO Amit Jain said in a case-opening declaration late Wednesday that the business, founded in 2005, has never turned…