Novan Inc (NOVN) has released an update to notify the public and investors about its debt resolution strategies.
On July 17, 2023, NVN Liquidation, Inc. and its subsidiary EPI Health filed for Chapter 11 bankruptcy. Following a hearing on January 25, 2024, a bankruptcy court confirmed their liquidation plan, which includes the appointment of a liquidating trustee and the cancellation of all company equity interests. The plan is expected to take effect in mid-February 2024, pending certain conditions. Details of the plan and its confirmation are publicly available online.
For further insights into NOVN financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.
