Brief: PhaseBio Plans For Near-Term Sale Using Structured Process Through Chapter 11 Of U.S. Bankruptcy Code

PhaseBio Pharmaceuticals

24/10/2022 13:11

Oct 24 (Reuters) - PhaseBio Pharmaceuticals Inc
 PHAS.O :
    * PHASEBIO PLANS FOR NEAR-TERM SALE USING STRUCTURED PROCESS
THROUGH CHAPTER 11 OF U.S. BANKRUPTCY CODE
    * PHASEBIO PHARMACEUTICALS INC- BIDDING PROCESS AND AUCTION
PROJECTED TO CONCLUDE DECEMBER 2022
    * PHASEBIO PHARMACEUTICALS INC- HAS ENTERED INTO A
CONFIDENTIAL
NON-BINDING AGREEMENT WITH A LARGE PHARMACEUTICAL COMPANY
    * PHASEBIO PHARMACEUTICALS- INTENDS TO FILE  MOTION SEEKING
AUTHORIZATION TO PURSUE AN AUCTION, SALE PROCESS UNDER SECTION
363 OF U.S. BANKRUPTCY CODE
    * PHASEBIO PHARMACEUTICALS- BELIEVES COMMITMENT FROM JMB
PROVIDES
SUFFICIENT LIQUIDITY TO CONDUCT BUSINESS, FUND CHAPTER 11
PROCEEDINGS

Source text for Eikon:  ID:nBw4VPkg2a 
Further company coverage:  PHAS.O 
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