"Invitae's Rapid Decline: From $7B Valuation to Near-Bankruptcy"

Invitae Corporation, backed by SoftBank, is reportedly on the verge of filing for bankruptcy due to a substantial $1.5 billion debt burden. The company is seeking restructuring advice and legal counsel to navigate its financial challenges, while actively exploring strategic options including shedding assets and cost-cutting measures. SoftBank, having invested $1.2 billion in convertible debt in 2021, remains a stakeholder in the company, which has seen an 82% loss in market value over the past year.