Dextera Surgical Files For Bankruptcy - Quick Facts

(RTTNews) - Dextera Surgical Inc. (DXTR), a company developing and commercializing the MicroCutter 5/80 Stapler, announced that it has filed for voluntary Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware.

Concurrently, Dextera Surgical entered into an asset purchase agreement with Aesculap, Inc, an affiliate of B. Braun Group, for approximately $17.3 million.

The company will continue to operate during this bidding process, which is expected to be completed in 45 to 60 days.

Dextera said it has negotiated with Aesculap for debtor-in-possession financing to ensure that it has sufficient liquidity to conduct its business uninterrupted and continue to meet its operational financial obligations.