Streetbeat News

Bankruptcy

DIS

GoDigital is planning to bid for Vice Media, which includes news site Refinery29, as the company faces bankruptcy, according to Wall Street Journal sources.

Portfolio Pulse from Charles Gross

June 15, 2023 | 11:24 pm

BBBYQ

Bed Bath & Beyond's top lender, Sixth Street, is preparing to bid for the retailer's assets in bankruptcy, planning to use more than $500 million in debt for the acquisition, according to WSJ.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 7:52 pm

BBBYQ

OSTK

Bed Bath & Beyond (OTC:BBBYQ) shares are trading higher after Overstock.com (NASDAQ:OSTK) emerged as a stalking-horse bidder, offering more than $20 million for the bankrupt retailer's assets, including intellectual property and data.

Portfolio Pulse from Aaron Bry

June 15, 2023 | 4:21 pm

SCLX

SRNEQ

Scilex Holding Company (SCLX) announces that the U.S. Bankruptcy Court has issued a temporary restraining order suspending short-sales of its common stock distributed by Sorrento Therapeutics (SRNEQ) during its ongoing chapter 11 case. The court also ordered certain brokerage firms to provide an accounting of all profits from naked short-selling of the stock.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 1:05 pm

SCLX

SRNEQ

Sorrento Therapeutics, Inc.'s bankruptcy court has issued a temporary restraining order against brokerage firms and suspended short-sales of its dividended Scilex stock.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 1:04 pm

ONCS

OncoSec Medical has filed for bankruptcy and announced the resignation of its CEO, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 10:48 am

ONCS

OncoSec Medical has filed for voluntary bankruptcy, and its sole subsidiary, OncoSec Medical Australia Pty, Ltd., plans to liquidate and wind down operations under Australian law through a Creditors' Voluntary Liquidation.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 9:28 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the Fed will consider credit conditions and individual banks' situations when determining interest rate adjustments, taking macroeconomic implications into account.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 7:20 pm

VYGVQ

Bankrupt crypto broker Voyager Digital (OTC:VYGVQ) will initiate the return of funds to creditors next week, according to liquidation procedures filed with the U.S. Bankruptcy Court. The Voyager app will be updated on June 15, allowing creditors to access and view initial distribution amounts. The app will reopen between June 20, 2023, and July 5, 2023, for a 30-day period to facilitate cryptocurrency withdrawals.

Portfolio Pulse from Murtuza Merchant

June 14, 2023 | 4:57 pm

COIN

Bankrupt Bittrex's U.S. subsidiary has been granted permission by a Delaware bankruptcy court to enable customer withdrawals starting June 15. The exchange still owes a substantial amount due to sanctions violations. Bittrex, like Binance and Coinbase, has faced accusations from U.S. regulatory authorities for operating as an unregistered securities exchange.

Portfolio Pulse from Murtuza Merchant

June 14, 2023 | 4:14 pm