Akorn, Inc. (Nasdaq: AKRX), a leading specialty pharmaceutical company, announced Wednesday it has reached an agreement with certain of its lenders to extend the standstill period. The agreement defines a path forward and outlines milestones to execute a sale of Akorn’s business, potentially using Chapter 11 protection in order to address Akorn’s litigation-related overhangs and execute a transaction that maximizes value.
Read the full article: Akorn Announces New Extension of Standstill with Lenders and Agrees to Pursue a Sale of Its Business //
Source: https://www.prnewswire.com/news-releases/akorn-announces-new-extension-of-standstill-with-lenders-and-agrees-to-pursue-a-sale-of-its-business-301004100.html