Melinta Therapeutics Confirms Deerfield as Successful Bidder for Company
The Company will seek Court approval to assume its agreement with Deerfield on
Since filing for chapter 11 in
Melinta is advised in this transaction by
Additional information about this process, including documents related to the restructuring and reorganization proceedings, is available through Melinta’s claims agent
About Melinta Therapeutics
Melinta Therapeutics, Inc. is the largest pure-play antibiotics company, dedicated to saving lives threatened by the global public health crisis of bacterial infections through the development and commercialization of novel antibiotics that provide new therapeutic solutions. Its four marketed products include Baxdela® (delafloxacin), Vabomere® (meropenem and vaborbactam), Orbactiv® (oritavancin), and Minocin® (minocycline) for Injection. This portfolio provides Melinta with the unique ability to provide providers and patients with a range of solutions that can meet the tremendous need for novel antibiotics treating serious infections. Visit www.melinta.com for more information.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this communication constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions, including statements related to guidance. The Company intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect the Company’s current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to it and on assumptions it has made and include statements regarding: the terms and timing of and the ability to consummate the sale of the Company to Deerfield and the transactions contemplated by the pre-negotiated chapter 11 plan of reorganization; the ability to obtain the Court’s approval of the chapter 11 plan; the terms of and ability to consummate the settlement negotiated among the Company and major case constituents; any anticipated recovery of creditors, including pursuant to the negotiated settlement; the expected treatment of the equity of the Company, including no expected recovery of existing equity; the timing and ability of the Company to emerge from the chapter 11 proceedings as a going concern and any statements or assumptions underlying any of the foregoing. Although the Company believes that its plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, the Company can give no assurance that the plans, intentions, expectations, strategies or prospects will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond the Company’s control.
Risks and uncertainties for the Company include, but are not limited to, the decisions of the Court; negotiations with the Company’s debtholders, the Company’s creditors and the official committee of unsecured creditors and any other committee appointed in the chapter 11 cases; risks and uncertainties associated with chapter 11 proceedings; the Company’s ability to meet the requirements, and compliance with the terms, including restrictive covenants, of the Restructuring Support Agreement, the settlement agreement with general unsecured creditors of the Company and any other settlement or arrangement while in chapter 11 proceedings and risks associated with such compliance; the Company’s ability to discharge claims in chapter 11 proceedings; and the risk that the Company’s chapter 11 cases may be converted to cases under Chapter 7 of the Bankruptcy Code. Many of these factors that will determine actual results are beyond the Company’s ability to control or predict.
Other risks and uncertainties are more fully described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, its Definitive Proxy Statement filed
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