Exactech Files for Chapter 11; in Sale Pact with Investors (1)

Exactech Inc. files for Chapter 11 bankruptcy protection in Delaware and enters into restructuring support agreement and asset purchase agreement with a group of existing investors, according to a statement.

• Estimated assets are $100m-$500m, according to a court filing
  • Estimated liabilities: $100m-$500m
• The investor group will support the restructuring process, including by providing ~$85 million of additional financing to fund co.’s operations
  • Group will serve as the stalking horse bidder to acquire substantially all of the co.’s assets
  • Group is led by private equity and alternative asset management firms
• Co. will continue to operate as normal throughout the restructuring ...