Akorn Inc (AKRX)

Thanks for the dd Tduggylolz!

AKRXQ: Bankruptcy PLAN effective. All shares cancelled.

https://otce.finra.org/otce/dailyList?viewType=Deletions

AKRXQ stock is completely worthless. When Lenders take all the money, NONE is left for shareholders. Even Lenders don't get all the money owed to them, why would they give any to strangers who hold stock?

They don't!

Here's the reality...


https://www.investopedia.com/ask/answers/10/stock-holder-lose-equity-chapter-11.asp

It looks like some (bad) news hit today based on the price action.

I keep wondering if there might be a penny or two per share left over for common shareholders after all is said and done.

This is a weird play now don't know from one day to the next if you're going to loose all you're shares and investment

i honestly feel people are gassin up a dead frog... but if they are dispersing the co to shareholders.. i think its left us with some confusing directions... they dont mention the sale is to premium shares only from what i can tell... but it also states there is no guarantee common shares wont be wiped out... actually as these guys point out.. it almost suggests that they will remove the common shares.. id definitely love more input..

Does today's price action suggest that someone in the know knows that there will be more than a nickel a share left over from the bankruptcy to distribute to shareholders? Or is it just random speculation?





Don’t know, but it went down as low as 6 cents on its first day in OTC. But you are right, the missed revenue doesn’t change anything. IIRC, the stalking horse bid of a billion, should leave shareholders about 75 to 80 cents a share.

They Never care about the employees.

A terrible way to motivate employees by wiping out their stocks.

honda, how do they protect current employees common stock if they just gonna wipe it out on sale? they have quite a few facilities by me that are still full steam ahead despite all this

good looking out, thanks

All Commons gets Cancelled as The Company states: "What will happen to Akorn common stock?
While Akorn stock may continue to trade over-the-counter until the conclusion of the Akorn debtors’ Chapter 11 proceeding, we do not expect any recovery for holders of common stock in the Chapter 11 process and those equity interests will be canceled upon the conclusion of the Chapter 11 process."

https://akorn-forward.com/

No. 4.

AKRXQ is emerging from BK and All Commons will be Cancelled and Wiped out@!

That would be something if that happen.

yep

they had failed to meet FDA safety and regulation guidelines.. they had been basically sold to a German Pharmacy co, failed quite a few FDA examinations in a row .. at the worst timing possible.. lose the deal for a sale.... basically losing faith in both customer and investor at the same time... good bones, horribly ran... its over now.. being sold back to investors thats.... just a generalization - imo

https://akorn-forward.com/

https://www.otcmarkets.com/stock/AKRXQ/security

$AKRXQ who knows the news

I'm new here . Is this thing falling to trip's. Why the decline from last year. Thanks for your help.

shareholders wiped out

Blast off

Don’t know, but it went down as low as 6 cents on its first day in OTC. But you are right, the missed revenue doesn’t change anything. IIRC, the stalking horse bid of a billion, should leave shareholders about 75 to 80 cents a share.

How does the larger than expected Q2 loss reported affect the future of Akorn? It's down today, but how far down should we expect it to go?

Keep an eye on this one. It’s slowly creeping up unnoticed without the media attention.

Keep an eye on this one. It’s slowly creeping up unnoticed without the media attention.

AKRXQ getting close to Aug D day without Equity Committee - Not Approved

AKRXQ Equity Committee Approval

How is everyone doing today? Hope everyone is having a great week!
-AKRXQ-

https://reorgdocumentlibrary.broadridge.com/Client/Client?data=0720/E19968/009728106/c

Why we moving up ?

Did the document mention anything about our shares being cancel ? God I hope not...

Important dates coming up:

"... if the Debtors receive qualified competing bids within the requirements and time frame specified by the Bidding Procedures, the Debtors will conduct an auction (the “Auction”) of the Assets on August 10, 2020 ..."

"... the Debtors will seek approval of the Sale at a hearing scheduled to commence on or before August 20, 2020, ..."

BK NEWShttp://www.kccllc.net/akorn/info/10027..

had this crazy dream went to check the options play and the stock price was at "20 bucks" i was so confused cause i had '50 cent calls'

Does anyone have any news regarding BK proceedings yesterday ? .. I think it’s good judging from today’s action..

News out and we drop ??Akorn Animal Health Announces Launch of Neomycin and Polymyxin B Sulfates, and Bacitracin Zinc Ophthalmic Ointment

It seems we’re holding steady at .30.. maybe I’m wrong

AKRXQ~ .50+ >>>>>>

Here's a hint: yes and no.

Did news leaked ? just daytraders?

it was so easy to see....
TrendTrade2016 Saturday, 04/18/20 07:15:39 AM
Re: None 0
Post #
1009
of 1574
should see a BK here soon!! institutions dumping big time...

since under 1o cents you asks the same question! you should find by yourselves .. it is undervalued lol:)

Can someone explain to me why we up over 65% today ? news leaked ?

Entry into a Material Definitive Agreement.

On June 17, 2020, Akorn, Inc. (the “Company”) entered into a Share Purchase Agreement (the “SPA”) by and among the Company, WorldAkorn Pharma Mauritius (together with the Company, the “Sellers”), Akorn India Private Limited (“Akorn India”) and Biological E. Limited (the “Purchaser”). Pursuant to the SPA, the Sellers have agreed to sell to the Purchaser 100% of the share capital of Akorn India for $10 million in cash, subject to withholding taxes, if any, and adjustment for certain net working capital items, as specified in the SPA. Akorn India owns a manufacturing plant in Paonta Sahib, Himachal Pradesh. The sale of the Company’s equity interests in Akorn India is subject to the approval of the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).

The Purchaser’s obligation to consummate the purchase is subject to the fulfilment of certain conditions precedent by the Sellers and Akorn India, including the Company obtaining an approval order from the Bankruptcy Court.

[ . . . ]

https://www.sec.gov/ix?doc=/Archives/edgar/data/3116/000110465920074460/tm2022873d1_8k.htm

You're welcome.

Thanks - that helps a lot!

My cr@ppy broker (Schwab) doesn't often give news on lightly traded stocks like this so I had not seen that yet.

If I'm reading this right Akorn sold a piece of the company located in India for $10 million. I'm not sure if the market was happy about how this increases their cash flow, or thinking it adds $10 million to their value. This amount is only 7.5 cents per share, so I'm betting it's just a sign of maybe more good news to come?

Given the lack of news on this company we can just wait and see...

It should have been obvious: https://www.sec.gov/ix?doc=/Archives/edgar/data/3116/000110465920074460/tm2022873d1_8k.htm

Did news leaked out ?

It should have been obvious: https://www.sec.gov/ix?doc=/Archives/edgar/data/3116/000110465920074460/tm2022873d1_8k.htm

fellas. What went down today ? good news leaked out? just daytraders? What’s going on ?

Robinhood? The way this crept up with a slow acceleration over a few days makes me think it might just be day traders. That would explain the quick drop at the close too.

I'm surprised nobody on this board knows why this stock went up. Usually someone in the know lurks on these boards.

I actually cancelled my sell for $.20 this morning pre-market due to last night's research making me believe the real value of this company is closer to two to three bucks. I did recently buy a bunch at $.08 that I'll probably sell some of at $.54 on Monday if it gets there - since that's my break-even price. Yeah some of my shares I paid $3.56 for. Oops.

thanks for the run bought 0.1908 sold 0.30-0.37