Zynex Inc. filings document the regulatory record of a medical technology company that develops and sells non-invasive devices for pain management, rehabilitation, and patient monitoring. Its periodic reports and current reports have covered operating results, liquidity, billing and reimbursement matters, compliance risks, governance changes, and material events affecting the company and its subsidiaries.
Recent filings also document Zynex's Chapter 11 reorganization and public-company status changes. The record includes 8-K disclosures on bankruptcy proceedings, plan amendments and confirmation, Nasdaq delisting and OTC trading status, material agreements with government authorities, the conclusion of an SEC investigation without a recommended enforcement action, and board actions. A Form 15 reports termination or suspension of Exchange Act registration duties after the plan became effective, the prior common stock was cancelled, and new common stock was issued to the plan sponsor.
Zynex, Inc. entered into a non-prosecution agreement with the U.S. Attorney’s Office for the District of Rhode Island covering past conduct primarily from 2017 to August 2025 under prior management. The company admitted responsibility for acts described in the agreement and related statement of facts.
Under the agreement, Zynex will pay a criminal monetary penalty between $5 million and $12.5 million, depending on earnings and profit through the term, and will forfeit about $85 million in TRICARE billings and about $13 million in other payor billings via release of unpaid claims. Obligations run until the penalty is fully paid or December 31, 2034, whichever is later, and effectiveness is subject to approval by the U.S. Bankruptcy Court in the company’s ongoing Chapter 11 cases.
The company highlights enhanced compliance and governance reforms and ongoing cooperation commitments to authorities. Zynex is in Chapter 11 in the Southern District of Texas, its stock has been delisted from Nasdaq and now trades on the Pink Limited Market under “ZYXIQ,” and it warns that equity holders are expected to experience a significant loss on their investment if its restructuring transactions are implemented.
Zynex, Inc. describes its ongoing Chapter 11 restructuring and recent delisting from Nasdaq. The company and certain subsidiaries have been in voluntary Chapter 11 cases in the Southern District of Texas since December 15, 2025, with the cases jointly administered under a single caption.
On February 7, 2026, Zynex filed a Third Amended Combined Disclosure Statement and Joint Plan of Reorganization, and began soliciting votes on February 9, 2026, with a voting deadline of March 12, 2026. The plan follows a restructuring support agreement and incorporates a global settlement among the company parties, an ad hoc noteholder group and the official committee of unsecured creditors. It contemplates an equity transaction with a plan sponsor selected through a sale process and distribution of any excess sale proceeds under the plan.
Nazdaq determined to delist Zynex’s common stock following the Chapter 11 filings, and the shares were suspended and moved to trade on the Pink Limited Market under the symbol ZYXIQ. Zynex cautions that trading in its securities is highly speculative, states it expects equity holders to experience a significant loss on their investment, and notes the likelihood of cancellation of its common stock in the Chapter 11 process.
Zynex, Inc. provides an update on its ongoing chapter 11 restructuring and related stock exchange status. The company and certain subsidiaries have been operating under voluntary chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas since December 15, 2025.
Zynex has filed a Second Amended Combined Disclosure Statement and Joint Plan of Reorganization that remains consistent with its Restructuring Support Agreement and contemplates an equity transaction with a plan sponsor selected through a sale process. The plan incorporates a Global Settlement among the company parties, an ad hoc noteholder group and the official committee of unsecured creditors.
The plan also establishes a trust for holders of allowed convertible notes claims and general unsecured claims, funded on the plan’s effective date with $750,000 of initial funding, D&O insurance policies and certain estate claims and causes of action. Separately, Zynex notes that its common stock has been delisted from Nasdaq following the chapter 11 filings and now trades on the Pink Limited Market under the symbol ZYXIQ, with deregistration under Section 12(b) to follow effectiveness of Nasdaq’s Form 25. The company cautions that trading in its securities is highly speculative and expects equity holders to experience a significant loss if the restructuring transactions are implemented.
Zynex Inc. is removing its common stock from listing and registration on the Nasdaq Stock Market under Section 12(b) of the Securities Exchange Act of 1934. Nasdaq filed a Form 25, certifying it has complied with its own rules to strike this class of securities from listing and/or withdraw registration on the exchange. The filing also states that Zynex has complied with the exchange’s rules and the requirements of 17 CFR 240.12d2-2(c) governing the voluntary withdrawal of this class of securities.
Zynex, Inc. reports key developments in its ongoing Chapter 11 restructuring. The company previously obtained a $22.3 million senior secured debtor-in-possession term loan, available in three draws of $10.15 million, $5.0 million, and $7.15 million, to support operations during bankruptcy. On January 14, 2026, Zynex executed a first amendment to this DIP credit agreement to extend certain milestones tied to the final DIP order, bidding procedures order, and approval of compensation plans, giving more time to advance the court process.
Also on January 14, the company and its affiliated debtors filed a Combined Disclosure Statement and Joint Plan of Reorganization, which follows the terms of an existing restructuring support agreement. The plan contemplates an equity transaction with a “Plan Sponsor” selected through a sale process and provides that any excess sale proceeds will be distributed as outlined in the plan. Zynex cautions that trading in its securities is highly speculative during the Chapter 11 cases and states it expects equity holders to experience a significant loss on their investment if the restructuring transactions are implemented.
Zynex, Inc. has entered into a senior secured debtor-in-possession credit agreement for a $22.3 million term loan to fund its Chapter 11 restructuring. The DIP facility is available in three draws of $10.15 million, $5.0 million and $7.15 million, and carries 10.0% annual interest paid in kind plus substantial fees, including an upfront fee of $669,000, an exit fee of $669,000 and a $5,000,000 backstop fee, along with a minimum 2.00x return on invested capital. The loan matures on the earliest of 105 days after the Chapter 11 filing, an event of default, or completion of a sale of substantially all assets, and is secured by first-priority liens on nearly all of the company’s assets.
Zynex also received notice that Nasdaq will delist its common stock due to the Chapter 11 cases, with trading to be suspended on December 24, 2025; the company does not intend to appeal. Zynex cautions that trading in its securities is highly speculative and states that equity holders are expected to experience a significant loss on their investment if the contemplated restructuring transactions are implemented.
Zynex, Inc. has filed voluntary Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas, beginning a court-supervised reorganization of the company and certain subsidiaries. The company entered a restructuring support agreement with holders of approximately 80% of its 5.00% Convertible Senior Notes due 2026 and arranged a proposed $22.3 million debtor-in-possession term loan facility bearing 10% annual interest to help fund operations during the process.
The restructuring framework contemplates a competitive sale process under a chapter 11 plan, with the DIP lenders acting as stalking-horse bidder and plan sponsor, and milestones targeting interim and final DIP approval, a bid deadline 75 days after the petition date, an auction (if needed), plan confirmation by 95 days, and emergence by 105 days. The Chapter 11 filing triggered an event of default on approximately $60.0 million principal amount of the convertible notes, though enforcement is stayed under the Bankruptcy Code. The company cautions that trading in its stock is highly speculative and that equity holders are expected to experience a significant loss if the restructuring is completed.
Zynex, Inc. (ZYXI) director Paul Aronzon filed an initial Form 3 reporting his beneficial ownership status as of 11/11/2025. The filing states that he is a director of Zynex and that he does not beneficially own any Zynex securities. This is a baseline disclosure required when an insider first becomes subject to reporting rules.
Zynex, Inc. reported a sharp downturn in Q3 2025, posting a net loss of $42.9 million versus net income of $2.4 million a year earlier, driven largely by $30.7 million of impairment charges tied to its Zynex Monitoring Solutions business.
For the first nine months of 2025, net revenue fell to $62.2 million from $146.4 million, and the company recorded a net loss of $73.3 million. Cash and cash equivalents were $13.3 million and accounts receivable $6.7 million as of September 30, 2025, versus total liabilities of $86.7 million, resulting in a stockholders’ deficit of $41.4 million.
Zynex faces significant liquidity pressure, including ongoing suspension of payments from a key government payer and various refund demands. It has $60.0 million of 2023 Convertible Senior Notes due May 15, 2026 and elected not to make a $1.5 million interest payment due in November 2025, entering a 30‑day grace period. Management has concluded that substantial doubt exists about the company’s ability to continue as a going concern and is exploring restructuring alternatives with creditors.