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Asset Sale

All articles tagged with #asset sale

Sangamo Goes Chapter 11 as Lilly and Astellas Target Its Assets
business21 days ago

Sangamo Goes Chapter 11 as Lilly and Astellas Target Its Assets

Sangamo Therapeutics filed for voluntary Chapter 11 bankruptcy and cut about 40% of its staff as Lilly and Astellas act as stalking horse bidders to acquire key asset platforms, including AAV capsid delivery and gene-editing tools. Lilly is also eyeing the prion therapy ST-506, while Astellas pursues Fabry disease gene therapy ST-920; Giroctocogene fitelparvovec may be sold separately. The restructuring aims to maximize value amid cash constraints and creditor claims.

via BioSpace|
#asset-sale#astellas#bankruptcy
Sangamo to Sell Most Assets in Bankruptcy, Lilly and Astellas Lead Bids
business21 days ago

Sangamo to Sell Most Assets in Bankruptcy, Lilly and Astellas Lead Bids

Sangamo Therapeutics has filed for bankruptcy and will pursue a sale of substantially all its assets. Eli Lilly and Astellas are named as stalking-horse bidders, with Lilly set to acquire Sangamo’s capsid delivery platform, zinc finger platform, Modular Integrase (MINT) platform, and the ST-506 prion disease program, while Astellas aims to buy the Fabry disease asset isaralgagene civaparvovec. Other assets, including ST-503 for chronic neuropathic pain, giroctocogene fitelparvovec for hemophilia A, and the cell therapy/Treg assets, are not included in these initial bids. Sangamo has faced years of cash strain, Pfizer exiting a key collaboration, and its stock has fallen dramatically, prompting the asset-sale process to maximize value for creditors and stakeholders.

via Fierce Biotech|
#asset-sale#bankruptcy#biotech
business3 months ago

Allbirds pivots to AI compute with $50M financing, eyes GPU‑as‑a‑Service

Allbirds announces a $50 million convertible financing facility to fund a strategic pivot into AI compute infrastructure, aiming to become a GPU‑as‑a‑Service and AI‑native cloud provider, with initial capital to acquire high‑performance GPU assets. The move follows an asset sale to American Exchange Group and may include a name change to NewBird AI; stockholders are expected to vote on the Asset Sale and Facility on May 18, 2026, with a potential Q3 2026 special dividend if the asset sale closes. Closing of the facility is anticipated in Q2 2026, and the company plans to expand its neocloud platform and explore partnerships and M&A opportunities.

via Allbirds|
#ai-compute#allbirds#asset-sale
Blue Owl tightens liquidity after $1.4B loan sale reshapes retail fund
business4 months ago

Blue Owl tightens liquidity after $1.4B loan sale reshapes retail fund

Blue Owl Capital is tightening investor liquidity by offloading $1.4 billion of loan assets from three private debt funds, including $600 million from OBDC II, to North American pension and insurance buyers. OBDC II will cease regular quarterly liquidity payments and shift to periodic payouts funded by asset sales, earnings, and repayments, with proceeds used to pay down debt and return capital to OBDC II shareholders (up to $2.35 per share, about 30% of NAV). The move comes as private markets confront liquidity pressures; the other funds, OBDC and OTIC, sold $400 million each. Blue Owl’s shares declined roughly 8.7% after the announcement, illustrating investor concern over liquidity dynamics in private credit.

via CNBC|
#asset-sale#blue-owl-capital#business
business4 months ago

Ovintiv Moves to Divest Anadarko Portfolio for $3B Cash

Ovintiv announced a definitive agreement to sell its Anadarko assets in Oklahoma for $3 billion in cash, covering about 360,000 net acres. The deal is expected to close in early Q2 2026 with an effective date of January 1, 2026, and aims to de‑leverage the balance sheet while boosting returns to shareholders; Wells Fargo is advising, with further guidance to be provided in Ovintiv’s Q4 2025 results.

via Ovintiv Investor Relations|
#anadarko#asset-sale#business
Judge approves Genesis HealthCare sale to 101 West in $996M deal
business5 months ago

Judge approves Genesis HealthCare sale to 101 West in $996M deal

A federal bankruptcy judge approved the sale of Genesis HealthCare and its roughly 300 subsidiaries to the newly formed investment group 101 West for $996 million after a two-month auction, despite objections from rival bidders and questions about bidder connections. The deal includes assuming 50% equity in a related joint venture and is subject to financing and closing conditions, with a backup bid from Genie 3 kept in play.

via McKnight's Long-Term Care News|
#101-west#asset-sale#auction
Medical Properties Trust Stock Surges on Positive News
finance2 years ago

Medical Properties Trust Stock Surges on Positive News

Medical Properties Trust stock surged 18.8% after announcing the sale of its interests in five Utah hospitals to a joint venture for $886 million, generating a total of $1.1 billion in cash proceeds. The company plans to use the funds to reduce debt, including payment of a $300 million Australian term loan due this year and repayment of borrowings. This move follows recent asset divestments in California and New Jersey, as well as a deal by its largest tenant, Steward Health Care, to divest its physician network. Investors are optimistic about the company's efforts to improve its financial position and the potential for long-term value.

via The Motley Fool|
#asset-sale#finance#healthcare-facilities
Medical Properties Trust Stock Skyrockets on Utah Hospital Deal and Asset Sales
finance2 years ago

Medical Properties Trust Stock Skyrockets on Utah Hospital Deal and Asset Sales

Medical Properties Trust stock surged nearly 19% after announcing the sale of its interests in five Utah hospitals to a joint venture for $886 million, generating around $1.1 billion in total cash proceeds. The company plans to use the funds to reduce debt, including payment of a $300 million Australian term loan and repayment of borrowings. This follows recent asset sales and positive developments with its largest tenant, Steward Health Care, indicating efforts to strengthen its balance sheet and restore business stability.

via Yahoo Finance|
#asset-sale#finance#healthcare-facilities
"Polymetal International's $3.7 Billion Deal to Sell Russian Assets"
business2 years ago

"Polymetal International's $3.7 Billion Deal to Sell Russian Assets"

Polymetal International has agreed to sell its Russian assets to Siberian gold miner Mangazeya Plus for $3.69 billion, including the Russian operation's net debt of $2.21 billion, as part of efforts to comply with U.S. sanctions imposed in response to Russia's military actions in Ukraine. The deal involves cash payments and dividends, with Polymetal intending to use $1.15 billion of the dividends to repay debt. The transaction, which requires shareholder approval, will allow Polymetal to retain $300 million in post-tax proceeds, some of which will be used to develop a project in Kazakhstan.

via Reuters|
#asset-sale#business#gold-mining
Bird, Once Valued at $2.5 Billion, Files for Bankruptcy
business2 years ago

Bird, Once Valued at $2.5 Billion, Files for Bankruptcy

Electric scooter company Bird has filed for Chapter 11 bankruptcy protection in Florida federal court. The company, once valued at $2.5 billion, plans to use the bankruptcy proceedings to facilitate a sale of its assets within the next 90 to 120 days. Bird's popularity declined during the Covid-19 pandemic, and its share price tumbled after going public via a merger in 2021. The company's bankruptcy filing comes after being delisted from the New York Stock Exchange in September. Bird Canada and Bird Europe are not included in the filing and will continue to operate normally.

via CNBC|
#asset-sale#bankruptcy#bird
FTX's $744M Asset Sale and SOL's 5% Drop: What's Driving Investor Interest?
cryptocurrency2 years ago

FTX's $744M Asset Sale and SOL's 5% Drop: What's Driving Investor Interest?

Bankrupt crypto exchange FTX and its debtors have requested approval from the U.S. bankruptcy court to sell approximately $744 million worth of trust assets, including funds from Grayscale and Bitwise, through an investment adviser. The sale aims to prepare for forthcoming distributions to creditors and expedite the selling process. FTX, once a major crypto exchange, went bankrupt in November 2023 following reports of customer fund misappropriation. FTX founder Sam Bankman-Fried was recently found guilty of defrauding customers and lenders, potentially facing 15-20 years in jail. The trust assets consist of Grayscale and Bitwise funds, allowing investors exposure to digital assets without direct ownership.

via CoinDesk|
#asset-sale#bankruptcy#bitwise