Sciens Capital Management said on Friday that it has lined up the cash to stay involved in the capital-raising effort designed to pay gun maker Colt Defense LLC 's way out of bankruptcy, Dow Jones Daily Bankruptcy Review reported today. Colt's private-equity owner negotiated a longer timeline to come up with the $15 million it pledged to the turnaround of its long-time portfolio company after missing a Dec. 28 initial funding deadline. The first revised deadline is Friday, and Sciens said that it has sufficient cash to meet it, allowing Colt to exit chapter 11 soon.
