Replies to post #825 on Baxano Surgical, Inc fka BAXSQ

[wiseassowl]

Need to finish up the auction. Hearing today. Case will go to Chapter 7 or be dismissed. Chapter 7 truly does mean game over. If the case is dismissed, then the company will be back on its own again to do things like close out shares or continue on, although that scenario is a huge unknown since they are about to sell off most of their assets.

[UserAlias1]

ExWorks Wins OK to-Buy Baxano-Assets for $5.5M

Last update: 30/01/2015 1:24:44 pm


13:24 EST - ExWorks Capital Fund I wins approval to buy Baxano Surgical's flexible-surgical-instruments business for $5.5M. ExWorks intends to resell Baxano assets, including the company's iO Flex surgical-products line, to Georgia-based Amendia. A bankruptcy judge has signed off on the deal, along with the sale of another $2M worth of the spinal-device maker's assets Thursday. Baxano, formerly TranS1, filed for bankruptcy last year after agreeing to pay the federal government $6M to settle Medicare-fraud claims. ([e-mail]; @patfitzgerald23)

(END) Dow Jones Newswires

January 30, 2015 13:24 ET (18:24 GMT)

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