ATHX IP AND ALL sold to Healios....it's over

Per 8-K filing today, all ATHX IP and more is sold to Healios for a lousy $2 M..and files for Chapter 11 (voluntarily Bankruptcy filing)

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001368148/000143774924000820/athx20240107_8k.htm

Athersys Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Bankruptcy or Receivership, Creation of a Direct Financial Obligation, Regulation FD Disclosure, Financial Statements and Exhibits

Purchase Agreement

On January 5, 2024, prior to the filing of the Bankruptcy Petitions, the Debtors, entered into a “stalking horse” Asset Purchase Agreement (the “Asset Purchase Agreement”) with HEALIOS K.K. (the “Stalking Horse Bidder” or the “DIP Lender”), pursuant to which, among other things, the Debtors will sell to the Stalking Horse Bidder substantially all of their assets, including but not limited to their contracts, personal property, inventory, intellectual property, intangible property, accounts receivable, permits and approvals, studies, documents, and claims (collectively, other than excluded assets, the “Purchased Assets”).

The Asset Purchase Agreement provides that the aggregate consideration to be paid by the Stalking Horse Bidder for the sale of all of the Purchased Assets and the obligations of Sellers as set forth in the Asset Purchase Agreement shall be an amount equal to the sum of $2,000,000 (the “Purchase Price”), in the form of a credit bid as provided for pursuant to the DIP Financing Agreement (defined below), plus the payment of any applicable cure costs for contracts approved for assumption and assignment by the Court at the closing of the transaction (the “Closing”).

So, it's over...that's a very sad end to the compelling story of Athersys.

Thank you all who have been supporting this reddit channel and gave me (and others for sure) a warm nest for my ATHX investment. Be nice to each other and have a beautiful 2024, despite this news.