Brief: Timber Pharmaceuticals Says Prior To Filing Of Chapter 11 Case, Debtors Entered Into A "Stalking Horse" Asset Purchase Agreement

Trex Wind-Down

17/11/2023 22:24

Nov 17 (Reuters) - Timber Pharmaceuticals Inc  TMBR.A :
    * TIMBER PHARMACEUTICALS INC: PRIOR TO FILING OF CHAPTER 11
CASE,
DEBTORS ENTERED INTO A "STALKING HORSE" ASSET PURCHASE AGREEMENT
    * TIMBER PHARMACEUTICALS: AGREEMENT WAS TO SELL
SUBSTANTIALLY ALL
OF ASSETS OF CO, UNITS, INCLUDING TMB-001, FOR OF $14.35 MILLION
PLUS CERTAIN LIABILITIES
    * TIMBER PHARMACEUTICALS INC: COMPANY AND PARENT HAVE ALSO
AGREED
TO ENTER INTO A DEBTOR-IN-POSSESSION CREDIT FACILITY

Further company coverage:  TMBR.A 

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