NanoString Tech Debt Obligations Accelerated by Bankruptcy

NanoString Tech (NSTG) has released an update to notify the public and investors about events prompting financial liability intensification.

A company’s recent bankruptcy filing triggered a default on its debt obligations, accelerating the payment due dates for its convertible and secured notes. The convertible senior notes, due in 2025, and the senior secured notes, due in 2026, are now payable immediately. However, any collection efforts by creditors are on hold due to the bankruptcy protection, and their enforcement rights are governed by the bankruptcy laws.

For further insights into NSTG financials, check out TipRanks’ Financials page.

For a comprehensive understanding of the announcement, you can read the full document here.