Asyst Technologies, Inc. (fka ASYTQ)

[trader53]

ASYTQ > R/M




An example, (very similar to that of ASYTQ/Crossing Automation), of a company that filed Chapter 11 Bankruptcy, and was seeking a R/M candidate.


http://www2.timesdispatch.com/business/2011/mar/16/commonwealth-biotechnologies-ousts-board-chairman-ar-907891/

After reporting millions of dollars in annual net losses since 2006, the company announced plans last year to sell its assets, pay off its debts and seek a merger partner.

It filed for Chapter 11 bankruptcy protection in January to protect itself from creditors and to halt a foreclosure auction of its building.

The company's plan is to sell its assets and make itself a shell company. It would then seek to complete a "reverse merger" by finding a privately owned company seeking to become public by acquiring a shell business with stock that is already publicly traded.