Tintri Announces Bankruptcy Filing, Non-Binding Letter of Intent and Financing Commitment
TINTRI (TNTR)
Last tintri earnings: 3/5 04:05 pm
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US:NASDAQ Investor Relations:
ir.tintri.com/investor-relations
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Source: Business Wire
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Tintri, Inc. (NASDAQ: TNTR) today announced that, on July 10, 2018, it filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Tintri will continue to operate its businesses as a debtor-in-possession under the jurisdiction of the bankruptcy court. Tintri intends to continue its efforts to enter into a strategic transaction, including a sale of the company or its assets, following the bankruptcy filing. In this regard, the company has entered into a letter of intent with DataDirect Networks (“DDN”), which contemplates the purchase of substantially all of the company’s assets by DDN under Section 363 of Title 11 of the United States Code. The DDN letter of intent is non-binding and provides no guarantee that a transaction will be completed. The terms of any potential t
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