UpHealth shares are trading lower after the company announced that its subsidiary, UpHealth Holdings, has filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.
Portfolio Pulse from Benzinga Newsdesk
UpHealth's subsidiary, UpHealth Holdings, has filed for Chapter 11 bankruptcy, leading to a decrease in UpHealth's share prices.
September 19, 2023 | 1:19 pm
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UpHealth's share prices are expected to decrease due to its subsidiary's bankruptcy filing.
Bankruptcy filings typically lead to a decrease in share prices as it indicates financial distress within the company. In this case, UpHealth's subsidiary's bankruptcy filing is likely to negatively impact UpHealth's financial stability and thus its share prices.
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