- Bolt, once valued at $11 billion, is now embroiled in a financial and legal quagmire, struggling to stay relevant.
- Interim CEO Justin Grooms sent a letter to preferred investors, claiming Silverbear Capital is committed to a $200 million investment.
- Former CEO Ryan Breslow, known for his controversial tweets, is attempting a comeback amid the chaos.
- Bolt's financials reveal massive losses: $200 million on $30 million revenue in 2022, and $310 million on $27 million revenue in 2023.
- The company is pressuring Silverbear to fulfill its investment commitment, while doubts about the deal's legitimacy persist.
Source: [newcomer](https://www.newcomer.co/p/the-bolt-saga-continues-a-legal-threat)