secwatch.observer — SEC 8-K summary
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Issuer:     Acorda Therapeutics, Inc. (—)
CIK:        0001008848
Form:       8-K
Filed at:   2024-04-02T23:59:59+00:00
Accession:  0000950170-24-039674
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.03, 2.03, 2.04, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Acorda Therapeutics files Chapter 11; enters $185M stalking horse asset sale with Merz
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- Voluntary Chapter 11 filing in SDNY on April 1, 2024; seeks sale of substantially all assets under Section 363.
- Stalking horse Asset Purchase Agreement with Merz Pharmaceuticals for $185M, subject to higher bids and court approval.
- Restructuring Support Agreement with holders of >90% of 6% Convertible Senior Secured Notes due 2024.
- DIP Credit Agreement provides $20M new money term loan (plus up to $40M roll-up) at 10.5% annual interest.
- Operations continue uninterrupted; patient access to INBRIJA and AMPYRA not affected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1008848/000095017024039674/0000950170-24-039674-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1008848/000095017024039674/acor-20240331.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-039674

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