Athenex Inc. filed SEC Form 8-K: Completion of Acquisition or Disposition of Assets, Bankruptcy or Receivership, Material Modification to Rights of Security Holders, Leadership Update
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| Item 1.03 | Bankruptcy or Receivership. |
As previously disclosed, on May 14, 2023, Athenex, Inc. (the “Company”) together with certain of its subsidiaries (collectively, the “Debtors”) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code with the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”).
On September 12, 2023, the Bankruptcy Court entered an order confirming the Debtors’ plan of liquidation (the “Plan”). The Plan became effective by its terms on September 22, 2023 (“Effective Date”). Pursuant to the terms of the Plan, all of the Company’s common stock and other equity interests were deemed cancelled and cease to exist as of the Effective Date. The Debtors will not make distributions to the holders of such shares and interests. In addition, as set forth in the Plan, on the Effective Date, the employment, retention, appointment and authority of each of the Company’s directors and executive officers were automatically deemed rejected and terminated and Samir Saleem of MERU, LLC, the Debtors’ Assistant Chief Restructuring Officer, was appointed the Post-Effective-Date Debtor Representative as of the Effective Date and granted with the power to exercise the rights, powers and authority of the Post-Effective-Date Debtors. The Post-Effective-Date Debtor Representative will manage the Company’s affairs during the liquidation process. The full text of the Plan and related notices have been filed with the Bankruptcy Court.
| Item 2.01 | Completion of Acquisition or Disposition of Assets. |
To the extent required by Item 2.01 of Form 8-K, the information contained in Item 1.03 of this Current Report on Form 8-K is incorporated herein by reference.
| Item 3.03 | Material Modification to Rights of Security Holders. |
To the extent required by Item 3.03 of Form 8-K, the information contained in Item 1.03 of this Current Report on Form 8-K is incorporated herein by reference.
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
To the extent required by Item 5.02 of Form 8-K, the information contained in Item 1.03 of this Current Report on Form 8-K is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ATHENEX, INC. | ||||||
| Date: October 2, 2023 | /s/ Samir Saleem | |||||
| Name: | Samir Saleem | |||||
| Title: | Post-Effective-Date Debtor Representative | |||||