2020-04-22 09:24:36 AKRX Akorn
04/22/20 04/2209:24 04/22/2009:24 | Akorn discloses 'cleansing materials,' says in talks with lendersAs previously disclosed, on February 12, Akorn, certain of its subsidiaries and certain of its lenders entered into a Second Amendment to Standstill Agreement and Third Amendment to Credit Agreement with its lenders and Wilmington Savings Fund Society, FSB, as administrative agent. Among other things, the amended standstill agreement provides that the company will market and conduct a sale process for substantially all of its assets in accordance with certain milestones. As of March 28, there were no bids in the sale process sufficient to pay all obligations under the term loan agreement and an immediate event of default under the term loan agreement occurred. As a result, as of April 1, the alternative milestones for the sale process set forth in the amended standstill agreement apply, which provide that, among other things, the company shall commence cases under Chapter 11 of title 11 of the U.S. Code on or before May 1, 2020. In connection with the sale process, the company has been engaged in discussions with certain lenders and has entered into confidentiality agreements with such lenders. Pursuant to the terms of the NDAs, the company agreed to publicly disclose certain information regarding the company provided to the NDA Parties pursuant to the NDAs, otherwise known as the "Cleansing Materials," upon the occurrence of certain events. The cleansing materials contain certain preliminary financial results as of and for the three months ended March 31, 2020 and information related to potential effects of the COVID-19 pandemic, the company's product pipeline, manufacturing, regulatory compliance and research and development, as well as certain projections and forecasts including the cash flow projections. In the cleansing materials slides, the company states that Q1 preliminary results are estimated to be in line with the company's forecasts, with preliminary revenue of $191M and adjusted operating income of $40M. | |
---|---|---|
|
Recommendations
|
Boardwalk REIT price target lowered to C$41.50 from C$41.75 at Scotiabank »
11:17 03/02/21 03/0211:17 03/02/2111:17
BOWFF
Boardwalk REIT
Scotiabank analyst Mario… Story temporarily locked. ShowHide Related Items >><<
|
Technical Analysis
|
NASDAQ market internals summary »
11:17 03/02/21 03/0211:17 03/02/2111:17
$NSD
NASDAQ Market Internals
Volume is above average… Story temporarily locked. ShowHide Related Items >><<
|
Technical Analysis
|
NYSE market internals summary »
11:16 03/02/21 03/0211:16 03/02/2111:16
$NYE
NYSE Market Internals
Volume is above average… Story temporarily locked. ShowHide Related Items >><<
|
Options
|
Flex put volume heavy and directionally bearish »
11:15 03/02/21 03/0211:15 03/02/2111:15
FLEX
Flex
Bearish flow noted in… Story temporarily locked. ShowHide Related Items >><<
|
Syndicate
|
Supernova Partners Acquisition II opens at $10.25, IPO priced at $10 per unit »
11:13 03/02/21 03/0211:13 03/02/2111:13
SNII
Supernova Partners Acquisition II
Supernova Partners… Story temporarily locked. |
Recommendations
|
Aecon Group price target raised to C$22 from C$19 at TD Securities »
11:09 03/02/21 03/0211:09 03/02/2111:09
AEGXF
Aecon Group
TD Securities analyst… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Endeavour Silver price target raised to C$8 from C$7 at TD Securities »
11:08 03/02/21 03/0211:08 03/02/2111:08
EXK
Endeavour Silver
TD Securities analyst… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Chorus Aviation price target raised to C$6 from C$5.50 at TD Securities »
11:08 03/02/21 03/0211:08 03/02/2111:08
CHRRF
Chorus Aviation
TD Securities analyst Tim… Story temporarily locked. ShowHide Related Items >><<
|
General news
| 8-Week Bill Announcement… Story temporarily locked. |
General news
| 4-Week Bill Announcement… Story temporarily locked. |
Periodicals
|
PayPal in the process of buying Curv for up to $500M, CoinDesk reports »
11:06 03/02/21 03/0211:06 03/02/2111:06
PYPL
PayPal
PayPal is in the process… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Bit Digital announces bitcoin mining production of 424.7 bitcoin for January »
11:06 03/02/21 03/0211:06 03/02/2111:06
BTBT
Bit Digital
Bit Digital announced its… Story temporarily locked. ShowHide Related Items >><<
|
Options
|
Square call volume above normal and directionally bullish »
11:05 03/02/21 03/0211:05 03/02/2111:05
SQ
Square
Bullish option flow… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Clearside enrollment speed 'encouraging,' says Roth Capital »
11:04 03/02/21 03/0211:04 03/02/2111:04
CLSD
Clearside Biomedical
Roth Capital analyst… Story temporarily locked. ShowHide Related Items >><<
|
Upgrade
|
Atara Biotherapeutics upgraded to Buy at Citi following 35% pullback »
11:04 03/02/21 03/0211:04 03/02/2111:04
ATRA
Atara Biotherapeutics
Bayer
As previously reported,… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Capri Holdings appoints Alejandro Martinez-Galindo as CIO »
11:04 03/02/21 03/0211:04 03/02/2111:04
CPRI
Capri Holdings
Walgreens Boots Alliance
Capri Holdings (CPRI)… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Activision Blizzard appoints Frances Townsend as EVP, corporate affairs »
11:02 03/02/21 03/0211:02 03/02/2111:02
ATVI
Activision Blizzard
Activision Blizzard… Story temporarily locked. ShowHide Related Items >><<
|
Syndicate
|
Orion Acquisition opens for trade at $10.05, IPO priced at $10 »
11:00 03/02/21 03/0211:00 03/02/2111:00
OPHA
Orion Acquisition
Orion Acquisition, a… Story temporarily locked. |
Upgrade
|
Atara Biotherapeutics upgraded to Buy from Neutral at Citi »
11:00 03/02/21 03/0211:00 03/02/2111:00
ATRA
Atara Biotherapeutics
Citi analyst Yigal… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
CAE price target raised to C$40 from C$34 at TD Securities »
10:59 03/02/21 03/0210:59 03/02/2110:59
CAE
CAE
TD Securities analyst Tim… Story temporarily locked. ShowHide Related Items >><<
|
Syndicate
|
NightDragon Acquisition opens at $10.25, IPO priced at $10 per unit »
10:56 03/02/21 03/0210:56 03/02/2110:56
NDAC
NightDragon Acquisition
NightDragon Acquisition… Story temporarily locked. |
Hot Stocks
|
Target 'off to a strong start' in February, with comps up 20% »
10:55 03/02/21 03/0210:55 03/02/2110:55
TGT
Target
Comments taken from Q4… Story temporarily locked. ShowHide Related Items >><<
|
Options
|
Two Harbors put volume heavy and directionally bearish »
10:55 03/02/21 03/0210:55 03/02/2110:55
TWO
Two Harbors
Bearish flow noted in Two… Story temporarily locked. ShowHide Related Items >><<
|
Conference/Events
|
Seelos Therapeutics participates in a conference call with Benchmark »
10:55 03/02/21 03/0210:55 03/02/2110:55
SEEL
Seelos Therapeutics
Healthcare Analyst… Story temporarily locked. ShowHide Related Items >><<
|
Syndicate
|
Anzu Special Acquisition Corp I opens at $10, IPO priced at $10 per unit »
10:51 03/02/21 03/0210:51 03/02/2110:51
ANZU
Anzu Special Acquisition Corp I
Anzu Special Acquisition… Story temporarily locked. |