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Stock impact report

BRIEF-Unilife files for Chapter 11 protection [Reuters]

UNILIFE (UNIS) 
Company Research Source: Reuters
April 12 Unilife Corp: * Unilife files for chapter 11 protection * Company has obtained a commitment for a $7 milliondebtor-in-possession financing facility * Unilife's operations will remain ongoing during chapter 11process * Says SSG Capital Advisors LLC is company's restructuringadvisor * DIP financing, cash from operations, expected to providesufficient liquidity during chapter 11 cases to supportcontinuing business operations * Foreign affiliates in Australia are not included inchapter 11 bankruptcy filing but are expected to be included inrestructuring or sale * Filed voluntary petitions under chapter 11 of U.S.Bankruptcy Code in United States Bankruptcy Court for Districtof Delaware * Co has determined to simultaneously pursue both balancesheet restructuring of its debt, equity and a going concern saleof its assets * Filed a number of "first-day" motions with court designedto facilitate a smooth transition into chapter 11Source text for E Show less Read more
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