DNIB UNWIND, INC. (OTCMKTS:BINDQ) Files An 8-K Other EventsItem 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.
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”). As more fully described in the Notice of Distribution, on December 15, 2016, the Liquidating Trustee intends to distribute $8 million to the holders of record at the close of business on August 30, 2016 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. Any objections to the Initial Equity Distribution must be filed with the Bankruptcy Court no later than 4:00 p.m. Eastern Time on November 30, 2016. The full text of the Notice of Distribution is available on the website of Prime Clerk LLC, the Company’s claims agent, at https://cases.primeclerk.com/BIND/.
Forward-Looking Statements Disclaimer
This Current Report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Current Report that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding distributions to stockholders to the Amended Plan. These forward-looking statements are based on the Company’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to the risk that distributions to stockholders will not be made in the amount or timeframe the Company expects, or at all. These and other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, or SEC, on August 15, 2016, and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this Current Report. Any such forward-looking statements represent management’s estimates as of the date of this Current Report. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this Current Report.
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.