Clearside Biomedical Inc. (NASDAQ: CLSD) filed a voluntary Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the District of Delaware and plans to pursue an asset sale process. The biopharmaceutical company intends to file a motion seeking court authorization for an auction under Section 363 of the U.S. Bankruptcy Code. The proposed bidding procedures would require interested parties to submit binding offers to acquire Clearside’s assets in whole or in part, purchased free and clear of liens and interests.
Read the full article: Clearside Biomedical Files for Chapter 11 Bankruptcy, Seeks Asset Sale //
Source: https://www.streetinsider.com/Corporate+News/Clearside+Biomedical+files+for+Chapter+11+bankruptcy%2C+seeks+asset+sale/25652133.html