'Invitae Hires FTI, Kirkland & Ellis To Advise Options To Address $1.5B Of Debt As Company Prepares For Bankruptcy; Co Has Been Selling Assets To Shore Up Liquidity As Business Tanks' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Invitae, a SoftBank-backed medical genetics company, is preparing for bankruptcy as it struggles with $1.5 billion in debt. The company has hired FTI Consulting and Kirkland & Ellis to explore strategic options, including selling assets to improve liquidity.
February 05, 2024 | 4:12 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Invitae is preparing for bankruptcy due to a $1.5 billion debt, hiring FTI Consulting and Kirkland & Ellis for strategic advice.
The news directly involves Invitae's financial struggles and its preparation for bankruptcy, which is likely to have a significant negative impact on its stock price in the short term. The hiring of restructuring advisers indicates serious financial distress, which typically leads to a loss of investor confidence and a decrease in stock value.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100