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BRIEF-Unilife files for Chapter 11 protection
April 12, 2017 / 3:51 PM / 8 months ago

BRIEF-Unilife files for Chapter 11 protection

April 12 (Reuters) - Unilife Corp:

* Unilife files for chapter 11 protection

* Company has obtained a commitment for a $7 million debtor-in-possession financing facility

* Unilife’s operations will remain ongoing during chapter 11 process

* Says SSG Capital Advisors LLC is company’s restructuring advisor

* DIP financing, cash from operations, expected to provide sufficient liquidity during chapter 11 cases to support continuing business operations

* Foreign affiliates in Australia are not included in chapter 11 bankruptcy filing but are expected to be included in restructuring or sale

* Filed voluntary petitions under chapter 11 of U.S. Bankruptcy Code in United States Bankruptcy Court for District of Delaware

* Co has determined to simultaneously pursue both balance sheet restructuring of its debt, equity and a going concern sale of its assets

* Filed a number of “first-day” motions with court designed to facilitate a smooth transition into chapter 11 Source text for Eikon: Further company coverage:

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