Seelos Therapeutics Faces Liquidation Following Court-Approved Asset Sale
Published on 10/11/2025 at 10:09 | Redaktion boerse-global.de
A New York bankruptcy judge has authorized the sale of Seelos Therapeutics’ remaining assets for $22 million, effectively concluding the biotechnology firm’s protracted financial collapse. The September 17 ruling approved a credit bid from GLD Debt Acquisition, which had previously acquired the company’s secured debt obligations.
The asset disposal faced significant opposition from unsecured creditors’ committees, requiring additional concessions to proceed. Objections were ultimately resolved through a $100,000 cash payment plus $25,000 allocated for contractual expenses. Certain assets were excluded from the primary sale and are scheduled for separate auctions, with anticipated proceeds between $175,000 and $200,000. These amounts represent minimal recovery compared to outstanding liabilities.
Regulatory Demotion and Trading Restrictions
The company’s decline accelerated in October 2024 when Nasdaq delisted Seelos shares... Read more...
Disclaimer regarding our articles: No investment advice, no buy or sell recommendation. Information on prices, companies, and markets is provided without guarantee; changes are possible at any time. Stock market transactions can lead to substantial losses. Our articles are created and reviewed in whole or in part automatically with the support of AI.
