ZYNEX INC 8-K

What Happened
Zynex, Inc. (ZYXIQ) and certain subsidiaries filed voluntary Chapter 11 petitions on December 15, 2025, in the U.S. Bankruptcy Court for the Southern District of Texas (In re Zynex, Inc., Case No. 25-90810). The company filed a Combined Disclosure Statement and Joint Plan of Reorganization on January 14, 2026 (Docket No. 175), an amended plan on January 29, 2026 (Docket No. 225), and a Second Amended Combined Disclosure Statement and Joint Plan of Reorganization on February 1, 2026 (Docket No. 235). The Plan follows a Restructuring Support Agreement (RSA) dated December 15, 2025, contemplates an equity transaction with a Plan Sponsor via a Sale Process, and implements a Global Settlement among the company parties, an Ad Hoc Noteholder Group and the Official Committee of Unsecured Creditors.

Key Details

• Petition Date: December 15, 2025; Court: U.S. Bankruptcy Court, Southern District of Texas; Case No.: 25-90810.
• Plan filings: Initial Plan/Disclosure Statement (Dkt. 175, Jan 14, 2026), Amended Plan (Dkt. 225, Jan 29, 2026), Second Amended Plan (Dkt. 235, Feb 1, 2026).
• Trust funding on Plan effective date will include $750,000 of initial funding, the company’s D&O insurance policies, and certain estate claims and causes of action.
• Plan provides for a Sale Process to select a Plan Sponsor and for distribution of any Excess Sale Proceeds; terms of the Global Settlement are to be finalized in trust and related documentation.

Why It Matters
The filing confirms Zynex is restructuring under Chapter 11 and pursuing a court-approved reorganization that may involve a new equity sponsor and a funded trust for certain unsecured note and general unsecured claims. The company warns trading is highly speculative during the Chapter 11 Cases and that equity holders are likely to experience significant losses — including the possibility of cancellation of common stock — if the Restructuring Transactions are implemented. The Plan and Global Settlement are subject to court approval and confirmation, so outcomes, timing and recoveries remain uncertain. For case documents and plan copies, the company directs parties to the claims portal (dm.epiq11.com/Zynex).