Accelerate Diagnostics, Inc. (Nasdaq: AXDX) (“Accelerate” or the Company”) announces that it has voluntarily initiated a Chapter 11 restructuring proceeding in the United States Bankruptcy Court for the District of Delaware (“Bankruptcy Court”) and will seek to sell its assets through a court supervised sale process. Prior to the Chapter 11 filing, and subject to Bankruptcy Court approval, the Company agreed to terms with Indaba Capital Management (“Indaba”) – a majority holder of the Company’s prepetition secured notes — to acquire substantially all the assets of the Company.
Read the full article: Accelerate Diagnostics Files for Chapter 11 Protection and Agrees to Terms to Sell Substantially All Assets //
Source: https://www.prnewswire.com/news-releases/accelerate-diagnostics-files-for-chapter-11-protection-and-agrees-to-terms-to-sell-substantially-all-assets-302450047.html