The Company has obtained a commitment for a
“We have conducted an extensive review of alternatives to address
As part of
“This is a critical step in our ongoing transformation to a successful wearable injector-focused business.
“We are fortunate to have a world-class group of employees focused on developing our industry-leading wearable injectors, and we are confident that our business can emerge from this process ready to focus on delivering for our customers and their patients. We are keenly focused on minimizing disruption to our customers, partners, and employees and do not expect to experience any material disruptions during the chapter 11 proceedings.”
Contemporaneously with the filing of the voluntary petitions, the Company filed a number of “first-day” motions with the Court designed to facilitate a smooth transition into chapter 11 and minimize any business disruption. Among other things, the motions request authorization to obtain financing to continue certain customer and partner programs, and to honor certain employee compensation and benefit obligations.
For more information about the chapter 11 cases, including access to Court documents, please visit: http://www.omnimgt.com/unilife.
This press release contains forward-looking statements. All statements that address operating performance, events or developments that the Company expects or anticipates may or will occur in the future are forward-looking statements. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to the Company’s management. The Company’s management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from the Company’s historical experience and the Company’s present expectations or projections. These risks and uncertainties include, but are not limited to, those described in “Item 1A. Risk Factors” and elsewhere in the Company’s Annual Report on Form 10-K, those described from time to time in other reports which the Company files with the
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