Stimwave Technologies Inc., a Pompano Beach, Fla.-based medical device manufacturer and provider of permanently implanted neurostimulation products for chronic pain, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10541). The company intends to run a sale process and seek approval of a stalking horse bid from existing lender Kennedy Lewis, who has also proposed a $40 million, new-money DIP financing. The company reports $50 million to $100 million in assets and $10 million to $50 million in liabilities.