SoftBank Throws Final Cash Infusion to Bankrupt Startup Katerra
- Construction startup aims to sell its units through bankruptcy
- SoftBank offers $35 million loan to finance Chapter 11
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After pouring more than $2.1 billion into now-busted Katerra Inc., SoftBank Group Corp. is giving the construction startup one final cash infusion.
SoftBank is offering Katerra a $35 million loan to fund its operations in bankruptcy. In exchange for the so-called debtor-in-possession loan -- also called DIP financing -- Katerra will try to sell its assets in the next 60 days.