BRIEF-Timber Pharmaceuticals Says Prior To Filing Of Chapter 11 Case, Debtors Entered Into A "Stalking Horse" Asset Purchase Agreement

Reuters2023-11-18

Nov 17 (Reuters) - Timber Pharmaceuticals Inc :

* TIMBER PHARMACEUTICALS INC: PRIOR TO FILING OF CHAPTER 11 CASE, DEBTORS ENTERED INTO A "STALKING HORSE" ASSET PURCHASE AGREEMENT

* TIMBER PHARMACEUTICALS: AGREEMENT WAS TO SELL SUBSTANTIALLY ALL OF ASSETS OF CO, UNITS, INCLUDING TMB-001, FOR OF $14.35 MILLION PLUS CERTAIN LIABILITIES

* TIMBER PHARMACEUTICALS INC: COMPANY AND PARENT HAVE ALSO AGREED TO ENTER INTO A DEBTOR-IN-POSSESSION CREDIT FACILITY

Further company coverage:

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