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Quorum Health’s CARES Act Cash Dwarfs Projections: Mudrick

May 15, 2020, 1:52 PM

Quorum Health Corp. received some $70 million in additional funding under the CARES Act last week, dwarfing the $16 million projected to be received in August, according to court filing by Mudrick Capital Management.

  • Mudrick, which owns about 15% of Quorum’s shares, is arguing the hospital chain’s bankruptcy plan approval should be delayed because its valuation ignores millions of dollars in federal grants
    • EARLIER: Mudrick Capital Set for Court Fight With Bankrupt Hospital Chain
  • “With this latest funding grant, the debtors have received over $100 million of CARES Act funds to date,” attorneys for Mudrick write in the filing. ...