TerraVia Holdings, Inc. (NASDAQ:TVIA) Files An 8-K Other EventsItem 8.01 Other Events.
On August 2, 2017, TerraVia Holdings, Inc. (the “Company”) and certain of the Company’s wholly owned domestic subsidiaries (collectively, the “Debtors”) filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Filing”). Contemporaneously with the Bankruptcy Filing, on August 2, 2017, the Debtors filed a motion seeking entry of an order approving, among other things, the sale of the Debtors’ assets. On September 15, 2017, the United States Bankruptcy Court for the District of Delaware entered orders approving (i) the sale of substantially all of the Debtors’ assets to Corbion N.V. and (ii) the sale of the Company’s 19.9% equity interest in Algenist Holdings, Inc. to TCP Algenist LLC. The sales are subject to customary closing conditions and the Debtors expect the sales to be consummated as soon as practicable.