Sequential Brands Shares Rise 10% After Tuesday Sell-Off
Sequential Brands Shares Rise 10% After Tuesday Sell-Off
Sequential Brands Group Inc. shares were up 10%, to $5.66, after the company said that, as a result of its chapter 11 filing and the existing non-compliance due to filing delinquencies, the trading of its common stock would be suspended on Nasdaq on Sept. 9.
DJ Sequential Brands Shares Rise 10% After Tuesday Sell-Off
DJ Sequential Brands股价在周二抛售后上涨10%
By Chris Wack
克里斯·瓦克(Chris Wack)著
Sequential Brands Group Inc. shares were up 10%, to $5.66, after the company said that, as a result of its chapter 11 filing and the existing non-compliance due to filing delinquencies, the trading of its common stock would be suspended on Nasdaq on Sept. 9.
顺序品牌集团(Sequence Brands Group Inc.)股价上涨10%，至5.66美元，此前该公司表示，由于其申请破产保护，以及目前因拖欠债务而导致的违规行为，其普通股将于9月9日在纳斯达克(Nasdaq)暂停交易。9.
The stock ended Tuesday's session down 56%.
该股周二收盘时下跌56%。
The company said a Form 25-NSE would be filed with the U.S. Securities and Exchange Commission which will remove the company's securities from listing and registration on the Nasdaq.
该公司表示，将向美国证券交易委员会(U.S.Securities and Exchange Commission)提交25-NSE表格，该委员会将把该公司的证券从纳斯达克(Nasdaq)的上市和注册中移除。
On Tuesday, the company and certain of its subsidiaries began voluntary chapter 11 proceedings. The company received a letter from Nasdaq indicating that it remains delinquent in filing its Form 10-Q for the period ended March 31, as well as for the period ended June 30, and therefore is not in compliance with Nasdaq Rule 5250(c)(1). The additional letter states that the company is required to submit a plan to regain compliance with the rule by Friday, and that any exception to allow the company to regain compliance, if granted, would require compliance by Nov. 22.
周二，该公司及其某些子公司开始了自愿破产法第11章的程序。该公司收到纳斯达克的一封信，表明它仍未提交截至3月31日的10-Q表格以及截至6月30日的表格，因此不符合纳斯达克规则5250(C)(1)。另一封信指出，该公司被要求在周五之前提交一份重新遵守该规定的计划，如果获得批准，任何允许该公司重新遵守规定的例外情况都将要求在11月22日之前遵守。
On Tuesday, the company said it has determined that, as a result of the significant debt on its corporate balance sheet, it was no longer able to operate its portfolio of brands, and it will pursue the sale of all or substantially all of its assets under Section 363 of the U.S. Bankruptcy Code.
周二，该公司表示，由于公司资产负债表上的巨额债务，该公司已无法再运营其品牌组合，并将根据美国破产法第363条寻求出售其全部或几乎所有资产。
Sequential Brands said it would be obtaining $150 million in debtor-in-possession financing from its existing Term B lenders. The company expects this new financing, together with cash generated from ongoing operations, to provide ample liquidity to support its operations during the sale process.
顺序品牌表示，它将从现有的B期贷款机构获得1.5亿美元的债务人占有融资。该公司预计，这笔新的融资，加上持续运营产生的现金，将提供充足的流动性，以支持其在出售过程中的运营。
Sequential has filed a number of customary motions seeking court approval to continue supporting its operations during the court-supervised process, including the continued payment of employee wages and benefits without interruption and other relief measures customary in these circumstances.
Sequence已经提交了一些惯例动议，寻求法院批准在法院监督的过程中继续支持其运营，包括继续不间断地支付员工工资和福利，以及在这些情况下习惯的其他救济措施。
Write to Chris Wack at chris.wack@wsj.com
写信给克里斯·瓦克(chris.wack@wsj.com)
(END) Dow Jones Newswires
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September 01, 2021 10:03 ET (14:03 GMT)
2021年9月1日美国东部时间10：03(格林尼治标准时间14：03)
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