secwatch.observer — SEC 8-K summary
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Issuer:     Acorda Therapeutics, Inc. (—)
CIK:        0001008848
Form:       8-K
Filed at:   2024-07-11T23:59:59+00:00
Accession:  0000950170-24-082994
Event type: m_and_a
Sentiment:  negative
Materiality: 0.50
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Acorda Therapeutics completes $185M asset sale to Merz, no stockholder recovery
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- On July 10, 2024, Acorda completed the sale of substantially all assets to Merz Pharmaceuticals for $185 million, as part of its Chapter 11 proceedings.
- Approximately $139 million of the proceeds were distributed to secured creditors, including $62 million to repay the debtor-in-possession loan.
- No proceeds are expected for common stockholders; the company's stock will be cancelled upon effectiveness of the liquidation plan.
- The company anticipates deregistering its common stock after Court confirmation of the plan; trading is highly speculative.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1008848/000095017024082994/0000950170-24-082994-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1008848/000095017024082994/acor-20240710.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-082994

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