NanoString Technologies Inc.

06/26/2024 | Press release | Distributed by Public on 06/26/2024 05:18

Material Event Form 8 K

Item 1.03 Bankruptcy or Receivership.
As previously disclosed, on February 4, 2024, NS Wind Down Co., Inc. (formerly NanoString Technologies, Inc.) (the "Company") and certain of its subsidiaries (together with the Company, the "Debtors") filed voluntary petitions under chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101-1532, in the United States Bankruptcy Court for the District of Delaware (such court, the "Court" and such cases, the "Cases").
On June 18, 2024, the Court entered an order (the "Confirmation Order") confirming the Chapter 11 Plan of NanoString Technologies, Inc. and Its Affiliated Debtors, dated June 14, 2024 (as amended, modified, or supplemented from time to time, the "Plan").
On June 26, 2024 (the "Effective Date"), the Debtors filed a Notice of Effective Date with the Court and the Plan became effective in accordance with its terms. As of the Effective Date, and in accordance with the Plan, all outstanding shares of common stock of the Company (including shares of common stock issuable under equity awards granted under the Company's equity incentive plans) and warrants exercisable for shares of common stock have been canceled and discharged upon the Effective Date and holders of such equity interests will not receive or retain any property on account thereof at this time. In the event that there is value remaining in the Debtors' estates following payment in full of all creditors and claim holders of the Debtors (including all secured and unsecured creditors), which will not be known for many months following the Effective Date, the Plan Administrator, the person to be designated by the Plan to oversee the wind-down and liquidation of the Debtors and their remaining estates, will distribute any such excess, on a pro rata fully-diluted basis, to holders of common stock (and holders of vested and in-the-money equity awards).
The foregoing description of the Plan and Confirmation Order is a summary thereof and does not purport to be complete, and is subject to, and qualified in its entirety by reference to, the Plan and Conformation Order. A copy of the Confirmation Order (to which the Plan is attached as Exhibit A) was filed on June 20, 2024 as Exhibit 99.1 to the Company's Current Report on Form 8-K.