IMRIS Inc. and Two Subsidiaries File for Chapter 11 Protection
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Imris (IMRS) and Two Subsidiaries File for Chapter 11 Bankruptcy
May 26, 2015 8:27 AM EDTImris (NASDAQ: IMRS) announced that the Company, its subsidiary NeuroArm Surgical Ltd., and its U.S. subsidiary, IMRIS, Inc. have each filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.
As part of the filing, IMRIS announced that subject to a marketing process and Court approval, it intends to sell its business operations to an affiliate of Deerfield Management Company, L.P. ("Deerfield"). In addition, the Company has secured a commitment for debtor-in-possession financing from Deerfield, which, in... More
