Replies to post #247616 on Biotech Values

[DewDiligence]

LMDX essentially dissolves by selling its assets to Roche and using the proceeds to repay debt:

https://www.globenewswire.com/news-release/2023/12/29/2802167/0/en/LumiraDx-Announces-Agreement-to-Sell-its-Cutting-Edge-Point-of-Care-Technology-Platform-to-Roche.html

It is anticipated that all of the sale proceeds of the transaction will be used to repay certain amounts outstanding under the Company’s senior secured loan agreement, and that no sale proceeds will be distributed to the Company or its shareholders. The appointment of the administrators and sale to Roche represent the culmination of LumiraDx’s previously announced strategic review process led by Goldman Sachs & Co. LLC.