Company Overview of DNIB Unwind, Inc.
On October 11, 2016, DNIB Unwind, Inc. went out of business as per its Chapter 11 liquidation filing under bankruptcy. DNIB Unwind, Inc. engaged in the development of novel targeted therapeutics primarily for the treatment of cancer in the United States and Russia. The company was formerly known as BIND Therapeutics, Inc. and changed its name to DNIB Unwind, Inc. in August 2016. DNIB Unwind, Inc. was founded in 2006 and is based in Cambridge, Massachusetts.
325 Vassar Street
Cambridge, MA 02139
Founded in 2006
Key Executives for DNIB Unwind, Inc.
DNIB Unwind, Inc. does not have any Key Executives recorded.
DNIB Unwind, Inc. Key Developments
DNIB Unwind, Inc. Deleted From Other OTC
Oct 11 16
DNIB Unwind, Inc.'s common stock deleted from Other OTC, effective October 11, 2016. The deletion was due to bankruptcy plan effective/shares cancelled.
DNIB Unwind, Inc. To Be Delisted From The Nasdaq Stock Market
Sep 27 16
On May 2, 2016, DNIB Unwind, Inc. received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) notifying it that its securities would be delisted from Nasdaq due to the Company’s filing on May 1, 2016 for relief under Chapter 11 of the Bankruptcy Code (the “Delisting Determination”). The decision was reached by Nasdaq in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1. The Company appealed the Delisting Determination. On May 10, 2016, the Company received a letter from Nasdaq notifying it that it was no longer in compliance with Nasdaq Listing Rule 5450(b)(1)(A) and does not meet the continued listing requirements under the alternative standards of Listing Rule 5450(b). Also on July 28, 2016, the Company notified Nasdaq of its withdrawal from the appeals process and received a letter from Nasdaq notifying it that its common stock will be delisted, with suspension of trading occurring effective at the open of trading on August 1, 2016. On September 26, 2016, Nasdaq filed a Form 25-NSE with the Securities and Exchange Commission (“SEC”) to complete the delisting and remove the Company’s common stock from registration on The Nasdaq Stock Market. According to the Form 25-NSE, the delisting will become effective at the open of trading on October 6, 2016.
First Amended Liquidation Plan & Related Disclosure Statement Approved for DNIB Unwind, Inc.
Sep 26 16
The US Bankruptcy Court approved the first amended plan of liquidation and related disclosure statement of DNIB Unwind, Inc. on September 26, 2016. The debtor has filed first amended plan in the Court on September 14, 2016. As per the plan, the administrative expense claims of $2 million, and priority tax claims of $0.21 million will be paid in full in cash. The secured claims and unsecured claims of $5.2 million will be paid in full in cash from sale of assets. All equity interests in BIND security shall be deemed cancelled and holders of equity interests in BIND Security shall not receive any distribution on account of such interests. Allowed equity interest holders of BIND Therapeutics shall receive an initial equity distribution on the initial equity distribution date. The initial equity distribution shall be in the amount of $8 million; provided, however, that to the extent disputed claims are resolved, paid, satisfied or reduced by a final order of the bankruptcy court on or before the initial equity distribution date, the amount of the initial equity distribution shall be increased dollar-for-dollar in an amount not to exceed $12 million in the aggregate. The plan will be funded from cash in hand and debtor’s sale proceeds. The plan will be funded from cash in hand and sale of assets.
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