Yield10 Bioscience ( (YTEN) ) has issued an announcement.
Yield10 Bioscience has agreed to sell most of its assets to Nuseed Nutritional US Inc. in a deal that could be worth up to $5 million, depending on existing debts and payables. The transaction requires stockholder approval and is backed by the company’s board. Additionally, executives have amended their employment agreements to reduce severance payments, with payments contingent on available funds post-closing. Moreover, the company plans to dissolve following the asset sale, with an estimated initial liquidating distribution to stockholders between $0.14 and $0.92 per share. The completion of the sale and dissolution are subject to certain conditions and approvals, with detailed information available in the company’s proxy statement filings.
For a thorough assessment of YTEN stock, go to TipRanks’ Stock Analysis page.
