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股價在週二拋售後上漲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.
順序品牌集團(Sequence Brands Group Inc.)股價上漲10%，至5.66美元，此前該公司表示，由於其申請破產保護，以及目前因拖欠債務而導致的違規行為，其普通股將於9月9日在納斯達克(Nasdaq)暫停交易。9.
The stock ended Tuesday's session down 56%.
該股週二收盤時下跌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.
該公司表示，將向美國證券交易委員會(U.S.Securities and Exchange Commission)提交25-NSE表格，該委員會將把該公司的證券從納斯達克(Nasdaq)的上市和註冊中移除。
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.
週二，該公司及其某些子公司開始了自願破產法第11章的程序。該公司收到納斯達克的一封信，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，因此不符合納斯達克規則5250(C)(1)。另一封信指出，該公司被要求在週五之前提交一份重新遵守該規定的計劃，如果獲得批准，任何允許該公司重新遵守規定的例外情況都將要求在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.
週二，該公司表示，由於公司資產負債表上的鉅額債務，該公司已無法再運營其品牌組合，並將根據美國破產法第363條尋求出售其全部或幾乎所有資產。
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.
順序品牌表示，它將從現有的B期貸款機構獲得1.5億美元的債務人佔有融資。該公司預計，這筆新的融資，加上持續運營產生的現金，將提供充足的流動性，以支持其在出售過程中的運營。
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已經提交了一些慣例動議，尋求法院批准在法院監督的過程中繼續支持其運營，包括繼續不間斷地支付員工工資和福利，以及在這些情況下習慣的其他救濟措施。
Write to Chris Wack at chris.wack@wsj.com
寫信給克里斯·瓦克(chris.wack@wsj.com)
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September 01, 2021 10:03 ET (14:03 GMT)
2021年9月1日美國東部時間10：03(格林尼治標準時間14：03)
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