|
Your weekly dose of actionable deal flow intelligence by DailyDAC.
|
|
|
|
By DailyDAC™ • Issue #43 • April 20, 2022
A curation of actionable deal flow intelligence using some very proprietary sources, some public (but dispersed) data and a lot of spit & vinegar.
|
|
|
|
This Week’s Equity Analysis |
|
|
|
- DailyDAC initiated coverage of Greenlane Holdings (NASDAQ: GNLN) as Deal #32685 on 3/14/22. Two days earlier GNLN announced its plan to undertake cost-cutting measures and to raise capital to achieve profitability. The anticipated measures would include: pursuing an asset-based loan, an unspecified number of job cuts expected to save about $8 million per year, a sale-leaseback deal on its head office, selling “non-core assets,” no longer selling some “lower-margin third-party brands,” and increasing some product prices. On 3/12/22 the stock price was $0.44 (on 4/12/22 it was $0.45), representing a steep decline from around $20 in April 2019 (shortly after its IPO). DailyDAC issued a "HOLD" recommendation on 4/18/22. While tempting, given its turnaround plan and the significant recent purchases of shares by institutional investors, we are concerned with the level of insider selling. Deal ID: 33184
- TreeHouse Foods, Inc. (NYSE: THS). DailyDAC initiated coverage of THS on 3/15/2022 as Deal #32748. THS was founded in 1886 but did not go public until 2005. It manufactures and distributes private label foods and beverages in the United States and Italy and operates through two divisions: (a) snacking & beverage, and (b) meal preparation. THS made a number of acquisitions between 2006 and 2020. It has been losing money for the past few years and its stock price began a steady decline in mid-2016, from around $100 per share, to around $50 in 2021, to $33.72 on 4/15/2022. DailyDAC issued a HOLD rating on 4/18/2022. THS announced on 4/12/2022 that Scott Ostfeld, a partner of activist investor Jana Partners LLC, has been appointed to its board as part of an agreement with Jana, a New York-based hedge fund. THS has reduced its debt significantly in the past year. But we think it must divest its lower-margin business (a move it has stated it will make) before we can recommend buying into it at its current stock price. Deal ID: 33186
- DailyDAC issued a "BUY" recommendation for Chegg, Inc. (NYSE: CHGG) on 4/18/2022. It closed at $32.36 on 4/14/2022. CHGG is an education technology company. Our recommendation is based in large measure on what DailyDAC believes was an overreaction to poor earnings in 2021 Q3, strong headwinds in the industry overall, generally very positive customer reviews (based on third party surveys as well as our own), and a very strong balance sheet. DailyDAC first included CHGG in its ODD/DDD as Deal # 33023. Deal ID: 33187
- DailyDAC initiated coverage of Blonder Tongue Laboratories (NYSE: BDR) as Deal #32745 on 3/15/22 when the company announced its retention of Emerging Growth Equities, Ltd. to assist it in review of strategic alternatives for the company aimed at enhancing stockholder value. At that time, BDR was trading at about $0.58 per share, which represented a decline of about 60% from the year prior (but an increase of 36% over the month prior). DailyDAC issued a “SELL” recommendation for BDR on 4/18/2022. The recommendation is based on a number of factors, including BDR’s low level of liquidity and its customer concentration risk. Additionally, its stock price has hovered at about $1 or less per share since 2015. BDR’s Altman Z-Score, at the time of this recommendation, is -2.1. Deal ID: 33188
- DailyDAC issued a "SELL" recommendation on 4/18/2022. for Alfi, Inc. (NASDAQ: ALF). DailyDAC began coverage of ALF on 3/15/2022, as Deal ID #32743. ALF's advertising technology (DOOH - Digital Out of Home Advertising) is right out of the movie, "Minority Report." However, its severe cash constraints lead us to conclude that while the company or its technology may eventually be quite profitable, existing shareholders are unlikely to reap the benefits. Deal ID: 33189
|
|
|
|
Assignment for Benefit of Creditors - Commenced |
|
|
|
- Ripkurrent LLC. Energy solutions. Assignment for Benefit of Creditors. On March 9, 2022, the company filed a petition to commence an assignment for the benefit of creditors under Florida law. More info: Assignee Michael L. Kayman of Realization Advisors Inc. @ (954) 523-0900 or tabrams@tabramslaw.com, or possibly the Attorney of the Assignee. Deal ID: 33161
- Vision of Light Corporation. Medical supplies store. Assignment for Benefit of Creditors. On March 9, 2022, the company filed a petition to commence an assignment for the benefit of creditors under Florida law. More info: Assignee Philip J. Von Kahle of Moecker & Associates, 1883 Marina Blvd., Suite 106, Fort Lauderdale, Florida 33315. Deal ID: 33162
- UIC Logistics Corp. Logistics company. Assignment for Benefit of Creditors. On March 3, 2022 , the company filed a petition to commence an assignment for the benefit of creditors under Florida law. More info: Assignee Philip J. Von Kahle of Moecker & Associates, 1883 Marina Mile Blvd., Suite 106, Fort Lauderdale, Florida 33315. Deal ID: 33163
|
|
|
|
- La Perla. Restaurant. Bulk Sale. The name and business address of the Seller is El Porton Rojo, Inc., 4337 E Main Street, Stockton, California 95215. The name and business address of the Buyer is MDIK, Inc., 4337 E Main Street, Stockton, California 95215. The assets to be sold are generally described as FF&E, inventory, and liquor license. The anticipated date of the bulk sale is May 2, 2022. More info: Old Republic Title Company located at 1000 Burnett Avenue, Suite 400, Concord, California 94520. Deal ID: 33124
- Urns of Distinction. Wholesaler. Bulk Sale. The name and business address of the Seller is Richard Blair, 13041 Wood Rose Way, Grass Valley, California 95945. The name and business address of the Buyer is Myelin Group LLC, 117 Burnham Court, Folsom, California 95630. The assets to be sold are generally described as all inventory, stock in trade, fixtures, equipment and goodwill. The anticipated date of the bulk sale is May 3, 2022. More info: Erica Osborne of Lennar Title, Inc., located at 7555 N. Palm Ave., Ste 210, Fresno, California 93711, Escrow No.: 155602-001135. Deal ID: 33125
- Vicci Bakery Café. Café. Bulk Sale. The name and business address of the Seller is Weiss O-C Enterprises Inc., 301 Main Street, Newport Beach, California 92661. The name and business address of the Buyer is CTBV, LLC, 301 Main Street, Newport Beach, California 92661. The assets to be sold are generally described as FF&E. The anticipated date of the bulk sale is May 2, 2022. More info: Candice Silva, Escrow Officer located at 1205 E Chapman Ave, Orange, California 92866, Escrow No. 224592-CS. Deal ID: 33126
- Discount Cigarettes Store. Tobacco store. Bulk Sale. The name and business address of the Seller is Avtar Investments Inc., 349 Monterey St, Salinas, California 93901. The name and business address of the Buyer is Scorpio Imports Inc., Monterey St, Salinas, California 93901. The assets to be sold are generally described as all FF&E, tradename, goodwill, leasehold improvements, covenant not to compete, & all other assets of the business. The anticipated date of the bulk sale is April 30, 2022. More info: Elian Hanna of Business & Escrow Service Center, Inc., 3031 Tisch Way, Suite 310 San Jose, California 95128. Deal ID: 33144
- Sentivo Vineyard and Winery. Winery. Bulk Sale. The names and business address of the Seller is FDL Properties LLC, 7460 Fairplay Road, Somerset, California 95684. The name and business address of the Buyer is Girasole Family Vineyards, LLC, 506 Couch St, Vallejo, California 94590. The assets to be sold are generally described as all stock in trade, FF&E and goodwill. The anticipated date of the bulk sale is April 27, 2022. More info: Capitol CEO of Sentivo, LLC, 195 HWY 50, #140, P.O. Box 712197 Stateline, Nevada 89449. Deal ID: 33146
- Savor the Local, LLC. Food delivery. Bulk Sale. The name and the business address of the Seller is Savor the Local, LLC, 1 NE Camino Real & 9th, Carmel, California 93921. Name and the business address of the Buyer is RV Ventures, LLC, 630 Freedom Way, Gonzales, California 93926. The assets to be sold are generally described as all FF&E, tradename, goodwill and all other assets. The anticipated date of the bulks sale is April 28, 2022. More info: Business & Escrow Service Center, Inc., 3031 Tisch Way, Suite 310 San Jose, California 95128. Deal ID: 33149
- Rudy’s Plumbing & Heating: Rudy’s Energy Works. Fireplace store. Bulk Sale. The name and business address of the Seller is Cloutier Enterprises, Inc., 800 Emerald Bay Road, Suite G, South Lake Tahoe, California 96150. The name and business address of the Buyer is ACW Mechanical of Northern California Inc., 1300 Sacramento Street, Suite 301, San Francisco, California 94109. The assets to be sold are generally described as fixtures, equipment, inventory and all business assets. The anticipated date of the bulk sale is May 4, 2022. More info: Bay Area Escrow Services, 2817 Crow Canyon Rd, Ste 102, San Ramon, California 94583. Deal ID: 33150
|
|
|
|
Chapter 7 Filings Involving Companies With Significant Assets |
|
|
|
- Xperiome, Inc. Healthcare company. Chapter 7 Bankruptcy Filing Involving Companies With Significant Assets. Case number 1:22-bk-10305 (case filed on April 7, 2022 in the District of Delaware). The debtor’s address is 5 Cowboys Way, Frisco, TX 75034-2066. Xperiome connects patients with rare diseases with various facets of healthcare by matching “research-ready members to clinical and real-world studies, faster and smarter than ever before through data-driven insights into the rare disease experience.” The debtor connects to large brands through partnerships and affiliates. More info: Debtor’s counsel Matthew Goeller of K&l Gates LLP @ (302) 416-7082 or matthew.goeller@klgates.com. Deal ID: 33103
- Excell Auto Group, Inc. Car dealership. Chapter 7 Bankruptcy Filing Involving Companies With Significant Assets. Case number 9:22-bk-12790 (case filed on April 8, 2022 in the Southern District of Florida, Judge Erik P Kimball) Debtor’s address is 1001 Clint Moore Rd Ste 101, Boca Raton, FL 33487-2830. Excel Auto has a 4.5 star rating on Google from 168 reviews. Its Facebook page has 8000+ followers, and is still advertising the sale of Ferraris and Lamborghinis. More info: Debtor’s counsel Harry Winderman @ (561) 241-0332 or harry4334@hotmail.com. Deal ID: 33107
- Midpoint Packaging, LLC Packaging company Chapter 7 Bankruptcy Filing Involving Companies With Significant Assets. Case number 1:22-bk-04230 (case filed April 12, 2022 in the District of Illinois, Judge Janet S Baer). The debtor’s address is 3440 Pomeroy Road, Downers Grove, IL 60515. It has been in business since 2006 and its extensive and still functioning website continues to a wide variety of packaging options. More info: Debtor’s counsel Joshua D. Greene of Springer Larsen Greene, LLC @ (630) 510-0000 or jgreene@springerbrown.com. Deal ID: 33174
|
|
|
|
Chapter 11 Bankruptcy - 363 Sales |
|
|
|
- Ector County Energy Center LLC. Energy company/power plant. Chapter 11 Bankruptcy Sale. In re Ector County Energy Center LLC. Case number 1:22-bk-10320 (District of Delaware, Judge John T Dorsey). On April 11, 2022, a motion to sell all, or substantially all, assets was filed in the The requested bid deadline is June 17, 2022 and the requested auction date is June 22, 2022. Debtor is also seeking the approval of a a stalking horse bid of $91,250,000.Parties interested in bidding are being directed to contact John Baumgartner, Debtor’s CRO @ john.baumgartner@us.gt.com, with copy to: ann.huynh@us.gt.com” More info: Debtor’s counsel Christopher A. Ward of Polsinelli PC @ (302) 252-0920 or cward@polsinelli.com. Deal ID: 33175
- Laurel Apparel Group, LLC. Apparel company. Chapter 11 Bankruptcy Sale. In re Laurel Apparel Group, LLC. Case number 2:22-bk-11974 (Central District of California, Judge Sheri Bluebond). A motion to sell substantially all assets was filed April 11, 2022. The motion seeks approval of an auction to take place on May 2, 2022 and a bid deadline of April 25, 2022. The initial bid is proposed to be $250,000. More info: Debtor’s counsel, James R Selth of Weintraub & Selth, Apc @ (310) 207-1494 or jim@wsrlaw.net. Deal ID: 33135
- Amphil Group, LLC. Residential real estate. Chapter 11 Bankruptcy Sale. In re Amphil Group, LLC. Case number 2:21-bk-18014 (Southern District of California). A motion to sell residential real estate was filed on April 12, 2022. The property for sale is 19650 Chalina Drive, Walnut, CA, 91789 and the proposed opening bid is $1,800,000. The motion seeks an auction date of May 5, 2022 at 11 am PST. More info: Debtor’s counsel Michael Jay Berger @ 310-271-6223 or michael.berger@bankruptcypower.com. Deal ID: 33138
- 3200 Myers Street Partners, LLC. Industrial real estate. Chapter 11 Bankruptcy Sale. In re 3200 Myers Street Partners, LLC. Case number 8:22-bk-10057. (Central District of California, Judge Scott C Clarkson). A motion to sell industrial real estate property was filed on April 11, 2022 The address of the property being sold is 64 Halstead Blvd., Zelienople PA 16063-1911 and the motion seeks to start bidding at $1,425,000. More info: Debtor’s counsel Robert P Goe of Goe Forsythe & Hodges LLP @ (949) 798-2460 or kmurphy@goeforlaw.com. Deal ID: 33178
|
|
|
|
Exploring Strategic Alternatives / Out-of-Court Restructuring Action / Cash Constraints |
|
|
|
- Kaltex. Textile mill. (Private Company). Out-of-Court Restructuring. After missing a loan payment and having its corporate credit downgraded by Fitch to “RD” (Restricted Default), Kaltex has engaged an investment bank in an attempt to restructure its debts. This will be Kaltex’s third attempt at refinancing after selling multiple assets throughout 2021 in order to meet obligations. As of April 11, 2022 Kaltex owed $218 million in loans. Deal ID: 33195
- Idaho Champion Gold Mines Canada Inc. (CSE: ITKO). Gold exploration company. Exploring Strategic Alternatives. ITKO announced April 6, 2022 that it will conduct a strategic review of some of its properties. This review is a result of recent developments in the commodities market as well as new interest in exploration investments in Idaho. The purpose of this review will be to maximize shareholder value. ITKO closed at $0.075 on April 14, 2022. It's 52 week high as of that date was $0.21 and its 52 week low as of that date was $0.040. Deal ID: 33165
- Conduent, Inc. (NASDAQ: CNDT). Business services provider. Exploring Strategic Alternatives. CNDT announced on April 7, 2022 that it will pursue strategic alternatives for its transportation business. CNDT has stated it will do this by whatever means best maximizes shareholder value, including a sale or spin off. CNDT’s transportation business serves public sector transportation agencies. CNDT closed at $5.60 on April 14, 2022. It's 52 week high as of that date was $8.50 and its 52 week low as of that date was $4.12. Deal ID: 33156
- Mace Security International. (OTCMKTS: MACE). Personal safety and security manufacturer. Exploring Strategic Alternatives. MACE announced on April 8, 2022 that it will begin to explore strategic alternatives for the company. Further, between March 15 and March 31, 2022 MACE saw an over 90% increase in its short interest. MACE closed at $0.27 on April 14, 2022. It's 52 week high as of that date was $0.72 and its 52 week low as of that date was $0.10. Deal ID: 33158
|
|
|
|
- G2 Secure Staff, LLC. Aviation support services. Facility Closure. G2 Secure Staff, LLC is permanently ceasing operations at its JFK International Airport facility in Jamaica, New York 11430. Approximately 30 employees will be laid off on May 5, 2022. Deal ID: 33099
- The Research Foundation of The City University of New York. Research facility. Facility Closure. The Research Foundation of The City University of New York is permanently ceasing operations at its 55 West 125 Street facility in New York. Approximately 75 employees will be laid off on June 30, 2022. Deal ID: 33100
- DevaChan Hair and Spa, Inc. Hair salon. Facility Closure. DevaChan Hair and Spa, Inc. is permanently ceasing operations at its 425 Broome St. facility in New York 10013. Approximately 42 employees will be laid off on June 30, 2022. Deal ID: 33101
- Sanofi US (Kadmon Holdings, Inc.). Pharmaceutical company. Facility Closure. Sanofi US (Kadmon Holdings, Inc.) is permanently ceasing operations at its 450 East 29th St. facility in New York 10016. Approximately 25 employees will be laid off on April 1, 2023. Deal ID: 33104
- MC Packaging Corporation. Manufacturer. Facility Closure. MC Packaging Corporation is permanently ceasing operations at its 200 Adams Blvd. facility in Farmingdale, New York 11735. Approximately 88 employees will be laid off on June 30, 2022. Deal ID: 33111
- Weiss Instruments LLC. Manufacturer of temperature and pressure instruments. Facility Closure. Weiss Instruments LLC is permanently ceasing operations at its 905 Waverly Ave facility in Holtsville, New York 11742. Approximately 54 employees will be laid off on or around June 30, 2022. Deal ID: 33112
- Amazon. Amazon is permanently ceasing operations at its following facilities in New York: 7 W 34th Street, New York City, New York 10001 (14 employees will be laid off),10 Columbus Circle, New York City, New York 10019 (20 employees will be laid off),72 Spring Street, New York City, New York 10012 (11 employees will be laid off),423 W 14th Street, New York City, New York 10014 (6 employees will be laid off). Layoffs will begin on or around July 7, 2022. Deal ID: 33113
- ARS-Fresno, LLC. Gasoline solutions. Facility Closure. ARS-Fresno, LLC is permanently ceasing operations at its 1249 S. Baker St. facility in Portland, Oregon 97218. Approximately 160 employees will be laid off on or around May 31, 2022. Deal ID: 33122
- Collins Aerospace. Aerospace and defense company. Facility Closure. Collins Aerospace is permanently ceasing operations at its 5349 S Emmer Drive facility in New Berlin, Wisconsin. Approximately 90 employees will be laid off on or around May 27, 2022. Deal ID: 33155
|
|
|
|
- Elmira Savings Bank. Banking. Mass Layoffs. Elmira Savings Bank is eliminating 33 positions at its 333 E. Water Street, Elmira New York 14901 facility and at its 971 County Road 64 Elmira facility in New York 14903. Layoffs will begin on or around May 13, 2022. Deal ID: 33106
- Slant/Fin Corporation. Heating equipment supplier. Mass Layoffs. Slant/Fin Corporation is eliminating 122 positions at its 100 Forest Drive facility in Long Island, Greenvale, New York 11548. Layoffs will begin on or around June 30, 2022. Deal ID: 33109
- New York Air Brake. Brake shop. Mass Layoffs. New York Air Brake is eliminating 109 positions at its 784 Starbuck Ave. facility in Watertown, New York 13601. Layoffs will begin on or around June 3, 2022. Deal ID: 33110
- Aramark Educational Services, LLC. Food services company. Mass Layoffs. Aramark Educational Services, LLC is eliminating 233 positions at its 904 E. Cherry Street facility in Vermillion, South Dakota 57069-1742. Layoffs will begin on or around May 20, 2022. Deal ID: 33127
- Aramark Educational Services, LLC. Food services company. Mass Layoffs. Aramark Educational Services, LLC is eliminating 278 positions at its 1310 Main Avenue S., Suite 103 facility in Brookings, South Dakota 57006-3893. Layoffs will begin on or around May 20, 2022. Deal ID: 33128
- Ipswich SD Skilled Nursing Facility, LLC d/b/a Avantara Ipswich. Nursing facility. Mass Layoffs. Ipswich SD Skilled Nursing Facility, LLC d/b/a Avantara Ipswich is eliminating 51 positions at its 617 Bloemendaal Drive, Ipswich, South Dakota 57451. Layoffs will begin on or around June 1, 2022. Deal ID: 33129
- Devereux Advanced Behavioral Health. School. Mass Layoffs. Devereux Advanced Behavioral Health is eliminating 122 positions at its 120 David Wade Drive facility in Victoria, Texas 77905. Layoffs will begin on or around May 31, 2022. Deal ID: 33132
- ABM Industries Groups, LLC. Business services. Mass Layoffs. ABM Industries Groups, LLC is eliminating 94 positions at its 14141 Southwest Fwy Ste 477 facility in Sugar Land, Texas, 77478-4630. Layoffs will begin on or around April 18, 2022. Deal ID: 33134
- Packers Sanitation Services Inc. Food safety consultants. Mass Layoffs. Packers Sanitation Services Inc. is eliminating 85 positions at its 601 North Church Street facility in Smithfield, Virginia 23430. Layoffs will begin on or around May 3, 2022. Deal ID: 33142
- Lakeside Book Company. Publisher. Mass Layoffs. Lakeside Book Company is eliminating 80 positions at its 1433 Pleasant Valley Road facility in Harrisonburg, Virginia 22802. Layoffs will begin on or around June 3, 2022. Deal ID: 33151
- Kings Command Foods, LLC. Meat wholesaler. Mass Layoffs. Kings Command Foods, LLC is eliminating 92 positions at its 7622 S 188th St facility in Kent, Washington 98031. Layoffs will begin on or around May 1, 2022. Deal ID: 33152
- Walmart Supercenter. Department store. Mass Layoffs. Walmart is eliminating 147 positions at its 10504 S 15th Street, in Bellevue, Washington. Layoffs will begin on or around July 15, 2022. Deal ID: 33153
- Funko, LLC. Entertainment company. Mass Layoffs. Funko, LLC is eliminating 258 positions at its 2802 Wetmore Ave facility in Everett, Washington 98201. Layoffs will begin on or around June 9, 2022. Deal ID: 33154
- Rembrandt Enterprises. Egg producer and processor. Mass Layoffs. Rembrandt Enterprises is eliminating 135 positions at its Buena Vista County facility in Rembrandt, Iowa. The layoffs are immediate as of April 11, 2022 and are believed to be related to the ongoing spread of bird flu. Deal ID: 33159
|
|
|
|
Rating Agency Alerts/Going Concern Opinions/Stock Market Delisting/Other Signs of Potential Distress OR Upside Alpha Opportunity™ |
|
|
|
- Noranda Income Fund. (TSE: NIF.UN). Open-ended income trust. Other Signs of Potential Distress. NIF.UN is an open-ended income trust that owns an electrolytic zinc processing facility and ancillary assets. NIF.UN announced on April 8, 2022 that operational challenges at its Salaberry-de-Valleyfield facility in Quebec have hurt both their production and sales. NIF.UN closed at $1.83 on April 14, 2022. It's 52 week high as of that date was $1.83 and its 52 week low as of that date was $0.92. Deal ID: 33160
- Statera Biopharma. (NASDAQ: STAB). Biotech company. Stock Market Delisting/Other Signs of Potential Distress. An April 13, 2022 filing with the SEC details two resignations by members of STAB’s board of directors. Reports allege that these sudden resignations are a result of STAB’s defaulting on a loan and STAB is now in noncompliance with a continued listing rule requiring an independent board of directors. STAB closed at $0.34 on April 13, 2022. It's 52 week high as of that date was $7.17 and its 52 week low as of that date was $0.25. Deal ID: 33119
- Calithera Biosciences. (NASDAQ: CALA). Biotech company. Stock Market Delisting. CALA was provided with notice of delisting on April 7, 2022 for failure to satisfy a continued listing rule. This delisting comes as a result of CALA’s failure to maintain at least $10 million in market capitalization. CALA has expressed their intent to regain compliance and avoid delisting. CALA closed at $0.34 on April 13, 2022. It's 52 week high as of that date was $2.59 and its 52 week low as of that date was $0.32. Deal ID: 33117
- Aridis Pharmaceuticals. (NASDAQ: ARDS). Biotech company. Stock Market Delisting. ARDS was provided with notice of delisting on April 13, 2022 for failure to satisfy a continued listing rule. This delisting comes as a result of ARDS’s failure to maintain at least $35 million in market capitalization. ARDS has until October 10, 2022, to regain compliance. ARDS closed at $1.42 on April 14, 2022. It's 52 week high as of that date was $7.72 and its 52 week low as of that date was $1.13. Deal ID: 33166
- Creative Realities. (NASDAQ: CREX). Media company. Stock Market Delisting. CREX was provided with notice of delisting on April 14, 2022 for failure to satisfy a continued listing rule. This delisting comes as a result of CREX’s failure to maintain the minimum share price of $1.00 for 30 consecutive days. CREX has until October 11, 2022, to regain compliance. CREX closed at $0.72 on April 14, 2022. It's 52 week high as of that date was $3.59 and its 52 week low as of that date was $0.68. Deal ID: 33167
- Midatech Pharma PLC. (NASDAQ: MTP). Biotech company. Stock Market Delisting. MTP was provided with notice of delisting on April 13, 2022 for failure to satisfy a continued listing rule. This delisting comes as a result of MTP’s failure to maintain the minimum share price of $1.00 for 30 consecutive days. MTP has until October 10, 2022, to regain compliance. MTP closed at $0.86 on April 14, 2022. It's 52 week high as of that date was $3.61 and its 52 week low as of that date was $0.79. Deal ID: 33168
- Esports Entertainment. (NASDAQ: GMBL). Online gambling company. Stock Market Delisting. GMBL was provided with notice of delisting on April 11, 2022 for failure to satisfy a continued listing rule. This delisting comes as a result of GMBL’s failure to maintain the minimum share price of $1.00 for 30 consecutive days. GMBL has until October 8, 2022, to regain compliance. GMBL closed at $0.63 on April 14, 2022. It's 52 week high as of that date was $14.39 and its 52 week low as of that date was $0.60. Deal ID: 33169
- Chembio Diagnostics Inc. (NASDAQ: CEMI). Biotech company. Stock Market Delisting. CEMI was provided with notice of delisting on April 5, 2022 for failure to satisfy a continued listing rule. This delisting comes as a result of CEMI’s failure to maintain the minimum share price of $1.00 for 30 consecutive days. CEMI has until October 3, 2022, to regain compliance. CEMI closed at $0.76 on April 14, 2022. It's 52 week high as of that date was $7.34 and its 52 week low as of that date was $0.65. Deal ID: 33170
|
|
|
|
Receiverships - Commenced |
|
|
|
- Reditus Laboratories. Full-service laboratory company. Receivership. A receivership has commenced for Reditus Laboratories, a full-service laboratory based in Perkin, Illinois. A Tazewell County judge signed off on the agreed upon receivership Thursday, April 14, 2022. This proceeding comes as a result of a civil case against CEO Aaron Rossi involving allegations of misconduct. Reditus Laboratories was awarded over $220 million in state contracts to handle COVID-19 test results. More info: Adam Silverman of Adleman & Gettleman Ltd. @ (312) 622-0237 or asilverman@ag-ltd.com. Deal ID: 33196
|
|
|
|
(including Article 9 sales, commercial real estate foreclosure sales, residential real estate foreclosure sales, sheriff’s sales, tax sales, warehouse lien sales) |
|
|
|
- 600 Hancock Court, McKees Rocks, PA 15136. Residential Foreclosure Sale. Public Auction is 9:00 am on May 2, 2022 at Room 410, Fourth Floor, Court House, City of Pittsburgh. The property is a four-bedroom, 2,852 SF home, estimated by Realtor.com to be worth $413,500. Manley Deas Kochalski LLC is the mortgagee. More info: Manley Deas Kochalski LLC @ (614) 220-5611 or Mark A. Laurent @ (260) 217-4558. Deal ID: 33171
|
|
|
|
The Fine Print: Your use of the information in DailyDAC, LLC’s Opportunistic Deal Database™ and Distressed Deal Database™, and your right to be a subscriber is strictly conditioned on your acceptance of our terms and conditions.
|
|
|
|
If this email was forwarded to you then the person who sent it violated her or his license and we would appreciate hearing from you.
This email is intended for paying subscribers only. Click here if you would like to subscribe.
|
|
|
|
|
|