DNIB UNWIND, INC. (OTCMKTS:BINDQ) Files An 8-K Other Events

DNIB UNWIND, INC. (OTCMKTS:BINDQ) Files An 8-K Other Events
Item 8.01. Other Events.

As previously disclosed, on October 11, 2016, the effective date (the “Effective Date”) of the plan of liquidation, as amended (the “Amended Plan”) of DNIB Unwind, Inc. (f/k/a BIND Therapeutics, Inc.) (the “Company”) and one of its subsidiaries (together, the “Debtors”) occurred and all assets of the Company were transferred to the DNIB Liquidating Trust, which is administered by Geoffrey L. Berman, who became the post-confirmation liquidating trustee (the “Liquidating Trustee”), as further described in the Amended Plan.

Also as previously disclosed, on November 23, 2016, the Company filed a Notice of Distribution (the “Notice of Distribution”) with the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) disclosing that the Liquidating Trustee intended to distribute $8 million to the holders of record at the close of business on August 30, 2016 (the “Record Holders”) of the Company’s former common stock (the “Initial Equity Distribution”), with a portion of the Initial Equity Distribution to be held in reserve pending resolution of the Debtors’ objection to a proof of claim filed by one former stockholder (the “Holdback”).

On December 15, 2016, consistent with the formerly disclosed terms of the Initial Equity Distribution, the Liquidating Trustee distributed $0.3811 per share to the Record Holders of the Company’s former common stock, other than with respect to those shares subject to the Holdback.

Story continues below


About DNIB UNWIND, INC. (OTCMKTS:BINDQ)

DNIB Unwind, Inc., formerly BIND Therapeutics, Inc. is a shell company. The Company was engaged in developing targeted therapeutics, primarily for the treatment of cancer. As of August 1, 2016, the Company sold all of its assets. The Company’s subsidiaries include BIND (RUS) LLC and DNIB Subsidiary Corporation.

DNIB UNWIND, INC. (OTCMKTS:BINDQ) Recent Trading Information

DNIB UNWIND, INC. (OTCMKTS:BINDQ) closed its last trading session at 0.145 with 2,474,776 shares trading hands.

An ad to help with our costs