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Stock Market & Financial Investment News

News Breaks
November 9, 2012
04:34 EDTIMRSIMRIS strong bookings trend to continue through balance of 2012, into 2013
News For IMRS From The Last 14 Days
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May 26, 2015
08:28 EDTIMRSIMRIS, two subsidiaries file for Chapter 11 protection
IMRIS announced that the company, its subsidiary NeuroArm Surgical, and its U.S. subsidiary, IMRIS, Inc. have each filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. None of IMRIS's other operating subsidiaries outside of the United States and Canada are subject to the Chapter 11 proceedings, and they will continue to operate in the ordinary course of their businesses. As part of the filing, IMRIS announced that subject to a marketing process and Court approval, it intends to sell its business operations to an affiliate of Deerfield Management. In addition, the company has secured a commitment for debtor-in-possession financing from Deerfield, which, in addition to IMRIS's ongoing cash flow, will ensure it is able to continue meeting its financial obligations throughout the Chapter 11 case. During this time, IMRIS intends to conduct a marketing process for its operating businesses. The sale to Deerfield will be subject to a marketing process and approval by the Bankruptcy Court, and it is expected that the sale will close sometime in late summer.
08:27 EDTIMRSIMRIS, two subsidiaries file for Chapter 11 protection

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