Brief: Tricida Inc Filed Voluntary Petition For Relief Under Chapter 11

Tricida

12/01/2023 12:10

Jan 12 (Reuters) - Tricida Inc  TCDA.O :
    * TRICIDA INC - ON JAN 11, CO FILED VOLUNTARY PETITION FOR
RELIEF
UNDER CHAPTER 11
    * TRICIDA INC - COMPANY WILL CONTINUE TO OPERATE ITS
BUSINESS AS A
“DEBTOR IN POSSESSION” UNDER THE JURISDICTION OF THE BANKRUPTCY
COURT
    * TRICIDA INC -  INTENDS TO SELL SUBSTANTIALLY ALL OF ITS
ASSETS
DURING THE BANKRUPTCY CASE CONSISTENT WITH AND PURSUANT TO
MILESTONES SET FORTH IN RSA
    * TRICIDA INC - SEEKING APPROVAL OF VARIOUS “FIRST DAY”
MOTIONS
WITH THE BANKRUPTCY COURT
    * TRICIDA - ON JAN 11, EXECUTED RESTRUCTURING SUPPORT
AGREEMEN
WITH HOLDERS HOLDING IN EXCESS OF 80% OF AMOUNT OF CO’S 3.50%
CONVERTIBLE SENIOR NOTES DUE 2027

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