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Histogen Inc. (HSTO) has filed for voluntary Chapter 11 protection to wind down operations and maximize shareholder value. The company plans to distribute all value to stakeholders, including shareholders, after discontinuing further development in September 2023.
Histogen Inc. (HSTO) ha presentato una richiesta di protezione volontaria secondo il Capitolo 11 per cessare le operazioni e massimizzare il valore per gli azionisti. La società prevede di distribuire tutto il valore agli stakeholder, inclusi gli azionisti, dopo aver interrotto ulteriori sviluppi nel settembre 2023.
Histogen Inc. (HSTO) ha solicitado la protección voluntaria del Capítulo 11 para finalizar sus operaciones y maximizar el valor para los accionistas. La empresa planea distribuir todo el valor a los interesados, incluyendo a los accionistas, después de cesar el desarrollo adicional en septiembre de 2023.
Histogen Inc. (HSTO)는 운영을 종료하고 주주 가치를 극대화하기 위해 자발적인 Chapter 11 보호를 신청했습니다. 회사는 2023년 9월 추가 개발을 중단한 후 주주를 포함한 이해관계자에게 모든 가치를 분배할 계획입니다.
Histogen Inc. (HSTO) a déposé une demande de protection volontaire en vertu du Chapitre 11 pour arrêter ses opérations et maximiser la valeur pour les actionnaires. L'entreprise envisage de distribuer toute la valeur aux parties prenantes, y compris les actionnaires, après avoir cessé le développement supplémentaire en septembre 2023.
Histogen Inc. (HSTO) hat freiwillig einen Antrag auf Schutz nach Kapitel 11 gestellt, um den Betrieb einzustellen und den Wert für die Aktionäre zu maximieren. Das Unternehmen plant, nach dem Einstellen der weiteren Entwicklung im September 2023 den gesamten Wert an die Stakeholder, einschließlich der Aktionäre, zu verteilen.
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Histogen filing for Chapter 11 protection indicates financial distress and the need to liquidate assets to settle debts. Discontinuing development activities signals a lack of viable business prospects, impacting investor confidence and future growth potential.
SAN DIEGO, April 18, 2024 (GLOBE NEWSWIRE) -- Histogen Inc. (HSTO, the “Company” or “Histogen”), a drug development company for treatment of bacterial skin infections, today announced that it has filed voluntary petitions for relief under subchapter V of Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court for the Southern District of California to confirm a plan of liquidation that will distribute all value to stakeholders, including shareholders.
Histogen intends to promptly propose and confirm a plan of liquidation and make distributions to the benefit of its estate. The Company announced on Sept. 18, 2023, that it had discontinued further development and would seek approve for a Plan of Dissolution.
Histogen is represented by DLA Piper, LLP as its legal counsel and Armanino LLP as its financial advisor.
ABOUT HISTOGEN Histogen Inc. was a clinical-stage therapeutics company focused on developing potential clinical and preclinical drugs for a variety of antiapoptotic and anti-inflammatory effects.
FAQ
What is the reason behind Histogen filing for Chapter 11 protection?
Histogen filed for Chapter 11 protection to facilitate a wind-down process and maximize shareholder value by distributing all assets to stakeholders, including shareholders.
When did Histogen discontinue further development?
Histogen announced the discontinuation of further development on September 18, 2023.
Who is representing Histogen in the bankruptcy proceedings?
Histogen is represented by DLA Piper, LLP as its legal counsel and Armanino LLP as its financial advisor during the bankruptcy proceedings.
