Suitable Technologies gets approval to lift DIP loan to $6.45 million

By Sarah Lizee

Olympia, Wash., April 14 – Suitable Technologies, Inc. received court approval to increase its debtor-in-possession financing from MagicHeart Investments, LLC by $490,415 to $6.45 million, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The facility will terminate on July 3.

Suitable Technologies is a Palo Alto, Calif.-based internet services and infrastructure company. The company filed bankruptcy on Feb. 26, 2020 under Chapter 11 case number 20-10432.

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