The board of directors of medical technology company Chordate Medical has decided to propose that shareholders vote on a voluntary liquidation and delisting of the company’s shares at an extraordinary general meeting. This information was disclosed in a press release.
The board is making this proposal after concluding that there are no longer sufficient conditions to continue operations until a successful exit can be achieved.
“This is particularly due to the size of the company’s current working capital and the board’s assessment that there are no realistic prospects for the company to secure the additional capital increase required to continue operations while awaiting a successful exit,” the statement continues.
The extraordinary…