Adeptus Health Inc. (fka ADPTQ)

[oich]

The BK court had a hearing scheduled yesterday for a number of issues. The order was entered today.

The initial motion was for DIP financing which wiped out equity. The motion was granted but I imagine it must have modified the terms. I'm guessing that the initial drop in price was because sellers thought that equity was going to get wiped out once the order was entered today approving the motion for financing. Perhaps a finer reading of the order gave investors hope and thus the rebound but I'm really just guessing.

As to what the order really says, that is the question. It's a long and complicated doc and I skimmed it but I didn't see any mention of the issue. I'm going to read it again tonight if I can.