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BRIEF-L-3 agrees to buy Implant Sciences' Explosives Trace Detection assets
October 10, 2016 / 1:22 PM / a year ago

BRIEF-L-3 agrees to buy Implant Sciences' Explosives Trace Detection assets

Oct 10 (Reuters) - Implant Sciences Corp:

* L-3 agrees to acquire implant sciences explosives trace detection assets

* deal for $117.5 million in cash

* IMSC and its subsidiaries on Monday filed voluntary petitions under Chapter 11 of US Bankruptcy code

* IMSC has obtained commitments for debtor-in-possession financing of approximately $5.7 million

* intends to use cash from sale of explosives trace detection asset to pay creditors Source text for Eikon: Further company coverage:

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