Capstone Headwaters served as financial advisor to Beamable during its Chapter 11 reorganization

Capstone Financial Advisory Services Group Helps Smaller Businesses Navigate Chapter 11 Bankruptcy

March 2021

The Financial Advisory Services (“FAS”) Group at Capstone Headwaters (“Capstone”), a leading middle market investment banking and financial services firm, announced that its client, Beamble, Inc. (“the Company”) has confirmed its Chapter 11 Plan of Reorganization. Beamable is a Boston-based gaming software company.

“While we’re always proud to celebrate the success of an engagement, what makes this assignment notable is that Beamable was able to utilize the changes to the Bankruptcy Code that enables smaller companies to reorganize. Without the benefit of these changes, the fees and costs of a typical Chapter 11 process can limit the ability of smaller companies to successfully reorganize and become viable businesses,” said Capstone Managing Director Jack Bradley, who led the engagement. “With less than $7.5 million in debt, Beamable was able to take advantage of a more cost-effective alternative path to confirm their Plan of Reorganization.

“This is one of the first times a Massachusetts business has successfully reorganized its business under Subchapter V of Chapter 11 of the Bankruptcy Code” added FAS Practice Leader Brian Davies. “We looked at this assignment as a service to the broader business community. Our practice is configured to support much larger businesses through the bankruptcy process, but we want to be able to help smaller entities take advantage of the Bankruptcy Code changes that have emerged in the wake of COVID-19. We hope that Beamable’s success sets the example for other businesses of this size that are trying to navigate the Chapter 11 process.”

Beamable’s reorganization set the stage for the Company’s new $5 million venture capital raise to support the relaunch of the business.

Capstone’s Financial Advisory Services Group provides expert corporate financial consulting services. The group is comprised of C-level operators and financial engineers with capabilities across corporate turnarounds, restructurings, operational reengineering, valuations, due diligence and specialty M&A, among other disciplines. The Financial Advisory Services group serves both private and public companies, PE sponsors, management teams and commercial lenders by delivering immediate leadership and financial & operational acumen.