Brief: Aceragen Board Determined It Is In Best Interests Of Co,To Effect Transfer,Assignment Of All Of Co's Assets To Assignee

Aceragen

11/07/2023 22:20

July 11 (Reuters) - Aceragen Inc  ACGN.O :
    * ACERAGEN-ON JULY 10,BOARD DETERMINED IT IS IN BEST
INTERESTS OF
CO,STOCKHOLDERS,CREDITORS TO EFFECT TRANSFER,ASSIGNMENT OF ALL
OF CO'S ASSETS TO ASSIGNEE
    * ACERAGEN INC - ON JULY 10 BOARD APPROVED SEEKING
STOCKHOLDER
APPROVAL TO PROCEED WITH ASSIGNMENT
    * ACERAGEN INC - EXPECTS TO SEEK STOCKHOLDER APPROVAL OF
ASSIGNMENT PROPOSAL AT A SPECIAL MEETING OF STOCKHOLDERS
    * ACERAGEN-AFTER SEEKING POTENTIAL FUNDING SOURCES,OTHER
WAYS TO
CONTINUE TO OPERATE BUSINESS, HAS BEEN UNABLE TO FIND VIABLE
ALTERNATIVE TO ASSIGNMENT
    * ACERAGEN INC - UPON THE COMPLETION OF THE ASSIGNMENT,
ASSIGNEE
WILL HAVE SOLE CONTROL OVER CO’S ASSETS
    * ACERAGEN INC - BOARD WILL DETERMINE THE ASSIGNEE

Further company coverage:  ACGN.O