Dextera Surgical Inc. (NASDAQ: DXTR), a designer and manufacturer of surgical devices based in Redwood City, CA, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 17-12913). The Petition estimates that Dextera has $10 – $50 million in both assets and liabilities. According to the First Day Declaration, Dextera enters Chapter 11 having carried out a prepetition marketing process and will pursue a 363 sale, with Aesculap, Inc. as the Stalking Horse Purchaser. Dextera also seeks approval to borrow up to $1.5 million in DIP Financing from Aesculap, Inc. Rust/Omni is the proposed claims and noticing agent. The case has been assigned to the Honorable Kevin J. Carey.
Contact Norman L. Pernick or Nicholas J. Brannick for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.