Sientra (SIENQ) has provided an update.
Project Sage Oldco, Inc., previously Sientra, Inc., which filed for Chapter 11 bankruptcy, has sold its Biocorneum products business to Nuance Intermediary, LLC and the majority of its assets to Tiger Aesthetics Medical, LLC. Post-sale, the Bankruptcy Court confirmed a plan for winding down the company, setting aside $525,000 for general unsecured claims. The company’s equity interests have been canceled, rendering its common stock without value, and it plans to deregister its common stock and cease SEC reporting. The company’s latest financials show $81.5 million in assets against $123.7 million in liabilities, with the caveat that these numbers are unaudited and may change.
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