BRIEF-Tricida Inc Filed Voluntary Petition For Relief Under Chapter 11

Reuters2023-01-12

Jan 12 (Reuters) - Tricida Inc :

* TRICIDA INC - ON JAN 11, CO FILED VOLUNTARY PETITION FOR RELIEF UNDER CHAPTER 11

* TRICIDA INC - COMPANY WILL CONTINUE TO OPERATE ITS BUSINESS AS A “DEBTOR IN POSSESSION” UNDER THE JURISDICTION OF THE BANKRUPTCY COURT

* TRICIDA INC - INTENDS TO SELL SUBSTANTIALLY ALL OF ITS ASSETS DURING THE BANKRUPTCY CASE CONSISTENT WITH AND PURSUANT TO MILESTONES SET FORTH IN RSA

* TRICIDA INC - SEEKING APPROVAL OF VARIOUS “FIRST DAY” MOTIONS WITH THE BANKRUPTCY COURT

* TRICIDA - ON JAN 11, EXECUTED RESTRUCTURING SUPPORT AGREEMEN WITH HOLDERS HOLDING IN EXCESS OF 80% OF AMOUNT OF CO’S 3.50% CONVERTIBLE SENIOR NOTES DUE 2027

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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