Thu, Mar 27, 6:21 PM (33 days ago)
### Summary of GPB Holdings II, LP (Ticker: N/A) Annual Report for the Year Ended December 31, 2024 **Financial Performance:** - **Revenue:** Not explicitly stated. - **Net Income:** Not explicitly stated. - **Operating Expenses:** $35.2 million for the year ended December 31, 2023. - **Earnings per Share:** Not applicable as the company is a limited partnership. **Strategic Overview:** - **Divestiture:** The partnership sold substantially all of its assets and is now in receivership. - **Receivership:** The U.S. District Court for the Eastern District of New York appointed Joseph T. Gardemal III as receiver. - **Liquidation Plan:** The partnership is liquidating its remaining net assets and winding up operations. **Future Outlook:** - **Liquidation Completion Date:** Estimated to be December 31, 2026. - **Distribution Plan:** A proposed plan to distribute available receivership assets to investors and creditors is pending before the EDNY Court. **Risk Factors:** - **Legal Proceedings:** The partnership and its general partner are involved in material litigation. - **Financial Condition:** The partnership's financial condition is affected by the receivership and ongoing legal proceedings. - **Market Position Changes:** The partnership has sold all significant non-cash assets and is operating under liquidation basis accounting. **Financial Condition:** - **Cash and Cash Equivalents:** $10.9 million as of December 31, 2024. - **Investment Securities:** $495.6 million in U.S. Treasury Bills. - **Liabilities:** $28.4 million in liability for estimated costs in excess of estimated receipts during liquidation. **Market Position Changes:** - **Segment Reporting:** The partnership now reports operations solely as "Corporate and Other." - **Divestitures:** Sold portfolio companies including Experience Care, Cantata, and HealthPrime International, LLC. **Note:** The amounts are usually in thousands, 000s.