DJ Sequential Brands Up 56% a Day After Filing for Bankruptcy
By Josh Beckerman
Shares of Sequential Brands Group Inc., which filed for bankruptcy on Tuesday, were up 56% to $8.02 Wednesday.
The shares ended Tuesday's session down 56%.
The company reached a restructuring support agreement with its lenders and entered two asset-sale agreements.
Sequential said in an filing to the Securities and Exchange Commission that the transactions proposed under the restructuring support agreement don't provide for any "ownership or other interest in the company or the applicable buyer being provided to the holders of the company's outstanding common stock," and Sequential doesn't currently expect the holders of its outstanding common stock will receive any consideration as a result of the transactions.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 01, 2021 14:07 ET (18:07 GMT)
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