The US Bankruptcy Court approved the first amended joint plan of reorganization of Nogin, Inc., on March 28, 2024. The debtor has filed its joint amended plan in the Court on March 26, 2024. As per the amended plan, administrative claims, priority tax claims, professional fees claim, Priority non-tax claims, and other secured claims shall be paid in full in cash, Senior Notes Claims of $68.86 million shall receive its pro rata share of the Senior Notes Recovery the event that the Debtors pursue the transactions contemplated by the Restructuring Support Agreement and embodied in the Restructuring Term Sheet, and the Buyer is the Plan Sponsor purchasing the Reorganized Equity Interests, and General Unsecured Claims shall not receive any distribution.

Equity Interests in Debtor shall be cancelled. The plan shall be funded through cash in hand and asset sale.