An update from Invitae (NVTAQ) is now available.
Invitae Corporation, amidst Chapter 11 bankruptcy proceedings, has struck a deal to sell its assets to Labcorp Genetics Inc. for $239 million in cash, with Labcorp assuming certain liabilities. The sale follows Invitae’s selection of Labcorp as the highest bidder in a court-sanctioned auction. This transaction is contingent on court approval and meeting specific conditions, and it is aimed at providing a strategic path forward for Invitae amid its financial restructuring. Investors are cautioned to consider the speculative nature of trading the company’s securities during this period, given the uncertainties of bankruptcy outcomes.
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