POLARITYTE, INC.: M&A transaction — PolarityTE completes sale of substantially all assets to Grander Acquisition for ~$6.5M in Chapter 11

POLARITYTE, INC.

Sale closed August 15, 2023; total consideration ~$6.5M less DIP financing outstanding.
Bankruptcy Court approved the stalking horse asset purchase agreement on July 31, 2023.
Company expects outstanding common stock to be cancelled; stockholders likely receive no proceeds.
Equity may have little or no value; trading in common stock deemed highly speculative.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

POLARITYTE, INC. completed a disposition involving Grander Acquisition LLC for approximately $6.5 million (closed 2023-08-15).

Action: disposition
Counterparty: Grander Acquisition LLC
Consideration: approximately $6.5 million
Closing: 2023-08-15

Exact text from the filing

(“Grander Acquisition”), pursuant to which Grander Acquisition agreed to purchase substantially all of the assets of the Company, PTE Nevada, and PTE MD for approximately $6.5 million, less the amount of debtor-in-possession financing outstanding at closing, if any, subject to certain exceptions, and plus the assumption of assumed liabilities. The Asset

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Source: SEC EDGAR

accession 0001493152-23-028986

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