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Dextera Bankruptcy APA Amended

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Dextera Surgical filed with the U.S. Bankruptcy Court a first amendment to the Company’s stalking horse asset purchase agreement (APA).

The amendment notes, “This First Amendment to Asset Purchase Agreement is made and entered into as of January 08, 2018, by and between Dextera Surgical, formerly known as Cardica (Seller) and AESCULAP (Buyer). The Parties agree that the first (1st) sentence of Section 2.3 of the Purchase agreement shall be amended to read as follows: “At least twelve days prior to the Sale Hearing, Buyer will provide Seller with a completed form of Schedule 2.1 (a)(iv).”

As previously reported, the Court fixed the following APA-related dates: bid deadline on or before January 19, 2018 and auction on January 22, 2018. A sale hearing to approve the sale of the purchased assets to the highest or otherwise best bidder will be held on January 24, 2018, with objections due by January 19, 2018.

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