Elements Behavioral Health seeks more financing, maturity extension

By Caroline Salls

Pittsburgh, Feb. 8 – Elements Behavioral Health, Inc. requested court approval to access an additional $1.1 million in supplemental debtor-in-possession financing, according to a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company said the additional financing is required to fund its Chapter 11 cases through the sale of its assets to Project Build Behavioral Health.

The proposed DIP facility amendment would also extend the maturity date of the financing to March 31.

A hearing is scheduled for Feb. 28.

Elements is a Long Beach, Calif.-based behavioral health company. The company filed bankruptcy on May 23 under Chapter 11 case number 18-11212.

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