Debt-laden GenesisCare has sold its 6 per cent stake in biotech small cap Clarity Pharmaceuticals via Wilsons’ equities desk.
Advertisement
“Without a significant rebound in earnings or new equity, we view a distressed exchange or debt restructuring as being increasingly likely within the next six months,” SWhile GenesisCare tries to find a path back to financial stability, it’s been seeking to sell its venture capital investments and real estate to ease the burden.Clarity is a clinical stage cancer biotech developing radiopharmaceutical products to image and diagnose cancers. It listed in August 2021 at $1.40 a share.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Adamantem Capital hunts $200m debt for Retail Zoo buyoutSydney private equity firm Adamantem Capital was asking debt investors for $200 million odd to bankroll its acquisition of a majority stake in Retail Zoo, which owns Boost Juice and Betty’s Burgers.
Read more »
McCarthy calls on Biden to accept spending cuts in debt ceiling fightWhite House has said Biden will discuss issue after ceiling is lifted, while Republicans insist on cuts first
Read more »
One big lesson from the buried PwC robo-debt reviewNew rules are needed to stop governments and agencies burying critical reports produced by consulting firms, as happened with PwC and robo-debt, an academic says.
Read more »
Adani to repay $866m debt in bid to calm investorsThe billionaire owner of the group has moved to shore up investor confidence after a damaging short-seller report.
Read more »
Joe Biden calls on Republicans to raise debt ceiling in State of the Union address – liveUS president believes he has an economic success story to tell although polls indicate voters are skeptical
Read more »
Pacific Hydro banks new $1.5b debt facility, tyrekickers watch onRenewable energy assets owner and developer Pacific Hydro has restocked its balance sheet with a new debt package worth about $1.5 billion, secured mostly from its existing bank group.
Read more »