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IMMUNE PHARMACEUTICALS, INC.

(IMNPQ)
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Bidding Procedure Approved for Immune Pharmaceuticals, Inc.

07/16/2019 | 12:00am EST

The US Bankruptcy Court gave an order approving the bidding procedures relating to the certain assets of Immune Pharmaceuticals, Inc. on July 16, 2019. The Court approved the asset purchase agreement between the debtor and Alexion Pharmaceuticals, Inc., the stalking horse bidder, for the certain assets for a purchase price of $6 million in cash. To qualify as a qualified bidder, interested parties should submit their bids by September 12, 2019. The initial minimum overbid should be in the amount of $0.25 million more than the initial purchase price. If the debtor receives any qualified bids then it would hold an auction for its assets on September 16, 2019. At the auction, the subsequent bids would be in increments of $0.05 million. The stalking horse bidder would be entitled to a break-up fee of $0.14 million and expense reimbursement of $0.08 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for September 24, 2019.


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Chart IMMUNE PHARMACEUTICALS, INC.
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Immune Pharmaceuticals, Inc. Technical Analysis Chart | IMNPQ | US45254C2008 | MarketScreener
Managers and Directors
Adeel Ahmed-Daudpota President & Chief Executive Officer
Devin J. Shaw Chief Financial Officer
John Zhang Vice President-Research & Development
John A. Neczesny Independent Director
Jeffrey Paley Independent Director
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