February 10, 2020 / 2:04 AM / 10 days ago

BRIEF-Valeritas Announces Agreement For Zealand Pharma To Acquire Business And Retain Employees

Feb 9 (Reuters) - Valeritas Holdings Inc:

* VALERITAS ANNOUNCES AGREEMENT FOR ZEALAND PHARMA TO ACQUIRE BUSINESS AND RETAIN EMPLOYEES

* VALERITAS HOLDINGS-CO EXPECTS TO CONTINUE OPERATING BUSINESS AS USUAL AND HAS OBTAINED COMMITMENT FOR DEBTOR-IN-POSSESSION FINANCING FROM HB FUND LLC

* TRANSACTION CONTEMPLATES RETENTION OF NEARLY ENTIRETY OF VALERITAS WORKFORCE

* VALERITAS AND ITS SUBSIDIARIES FILED VOLUNTARY PETITIONS FOR RELIEF UNDER CHAPTER 11 OF U.S. BANKRUPTCY CODE

* VALERITAS HOLDINGS- FILED MOTION REQUESTING APPROVAL OF STALKING HORSE ASSET PURCHASE AGREEMENT WITH ZEALAND & TO INITIATE COMPETITIVE BIDDING PROCESS

* TRANSACTION INCLUDES ASSUMPTION OF CERTAIN LIABILITIES RELATED TO ONGOING BUSINESS OF VALERITAS Source text for Eikon: Further company coverage:

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