Streetbeat News

Bankruptcy

VBIV

VBI Vaccines has been granted protection under Canada's Companies' Creditors Arrangement Act (CCAA) by the Ontario Superior Court. The company has also received approval for a debtor-in-possession (DIP) loan, and Ernst & Young has been appointed as the monitor during the restructuring process.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 1:55 pm

TWOU

2U, Inc. (NASDAQ:TWOU) shares are trading higher after the company filed for Chapter 11 bankruptcy protection last week. The company has reached a deal to cut its debt by 50% and secure $110 million in new capital. Despite the bankruptcy filing, the stock is rebounding on heavy volume.

Portfolio Pulse from Erica Kollmann

July 29, 2024 | 5:13 pm

TWOU

2U Inc. (NASDAQ:TWOU), an online education company, has filed for Chapter 11 bankruptcy due to mounting debt and competition. The company has secured a deal to cut its debt by 50% and will continue operations without service disruptions. The stock has plummeted 63.35% in one day and 95.70% year-to-date.

Portfolio Pulse from Benzinga Neuro

July 26, 2024 | 1:53 am

TWOU

2U Inc (NASDAQ:TWOU) shares plummeted by 61% to $1.58 after the company filed for Chapter 11 bankruptcy to facilitate a Restructuring Support Agreement. The restructuring aims to improve the company's balance sheet, securing $110 million in new capital and reducing its debt by over 50%. The company will continue normal operations during this period and expects to emerge as a private entity by September.

Portfolio Pulse from Henry Khederian

July 25, 2024 | 4:53 pm

BHC

Bausch Health Companies Inc. (NYSE:BHC) experienced a significant stock price decline due to a report suggesting potential prepackaged Chapter 11 bankruptcy discussions. The company denied these claims, stating they are unsubstantiated rumors.

Portfolio Pulse from Vaishali Prayag

July 24, 2024 | 7:33 pm

BHC

Bausch Health shares are trading lower following an article suggesting potential bankruptcy, which the company has denied.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 7:05 pm

BHC

Bausch Health Companies Inc. (NYSE:BHC) has responded to a news article by Reorg® that contained unsubstantiated rumors about the company considering bankruptcy or insolvency proceedings. Bausch Health clarified that it is not involved in any such discussions.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 4:54 pm

VWE

Vintage Wine Estates Inc (NASDAQ:VWE) shares plummeted by 32.6% to $0.07 after the company announced a Chapter 11 bankruptcy filing, voluntary delisting, and SEC deregistration. VWE aims to address its debt obligations through asset sales and has secured a $60.5 million debtor-in-possession financing facility to support operations during restructuring.

Portfolio Pulse from Henry Khederian

July 24, 2024 | 4:41 pm

BHC

Bausch Health Companies shares are trading lower following a report suggesting the company is negotiating a potential prepackaged Chapter 11 with co-op creditors.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 3:58 pm

AZTR

GOOG

NUZE

VWE

U.S. stocks traded lower with the Dow Jones dipping around 400 points. Alphabet Inc. (GOOG) posted better-than-expected earnings and sales results for its second quarter. NuZee, Inc. (NUZE) shares shot up 230%, while Azitra, Inc. (AZTR) shares dropped 75% after a public offering announcement. Vintage Wine Estates, Inc. (VWE) announced bankruptcy filing and voluntary delisting.

Portfolio Pulse from Avi Kapoor

July 24, 2024 | 2:17 pm