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BRIEF-Teligent To Pursue Asset Sale Through Voluntary Chapter 11 Process

reuters ·  2021/10/14 06:41

Oct 14 (Reuters) - Teligent Inc (NEW JERSEY) TLGT.O :

* TELIGENT TO PURSUE ASSET SALE THROUGH VOLUNTARY CHAPTER 11 PROCESS

* TELIGENT - ARRANGING $12 MILLION DEBTOR-IN-POSSESSION FINANCING FROM ITS SENIOR SECURED LENDERS AND ACCESS TO ITS CASH COLLATERAL ON A CONSENSUAL BASIS

* TELIGENT INC - CANADIAN ENTITIES TO PURSUE SALE PROCESS OUTSIDE OF CHAPTER 11

* TELIGENT - EXPECTS TO CONSUMMATE A SALE OF ENTIRE BUSINESS OR ITS CORE ASSETS BY EARLY 2022

* TELIGENT - CEO TIM SAWYER AND CHIEF LEGAL OFFICER AND EXECUTIVE VICE PRESIDENT PHILIP YACHMETZ RESIGNED EFFECTIVE OCT 8

Source text for Eikon: ID:nPnbmCmRsa Further company coverage: TLGT.O

((Reuters.Briefs@thomsonreuters.com;))

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