secwatch.observer — SEC 8-K summary
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Issuer:     ATHERSYS, INC / NEW (—)
CIK:        0001368148
Form:       8-K
Filed at:   2024-01-08T23:59:59+00:00
Accession:  0001437749-24-000820
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 1.03, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Athersys files Chapter 11; agrees to sell substantially all assets to Healios K.K.
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- Filed Chapter 11 on Jan 5, 2024; seeks to sell substantially all assets under stalking horse APA with Healios K.K.
- Purchase price is $2M via credit bid under DIP Financing Agreement; Healios provides $2.25M DIP facility.
- Healios gets $200K break-up fee plus up to $300K expense reimbursement if alternative transaction closes.
- Sale subject to Court approval, higher bids at auction; common stock likely receives no distribution.
- DIP financing provides up to $2.25M term loans with superpriority claim and first liens on all assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1368148/000143774924000820/0001437749-24-000820-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1368148/000143774924000820/athx20240107_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-000820

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