Center for Autism and Related Disorders announces that the company has entered into an asset purchase agreement with Pantogran, led by Dr. Doreen Granpeesheh, founder and former CEO of CARD.
Terms call for Pantogran to serve as the “stalking horse bidder” in a court-supervised auction process. The company expects to move through this process on an expedited basis and complete the transaction within 60 days.To facilitate the transaction, CARD has filed voluntary petitions for a court-supervised restructuring under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. Read more.
