SIEN - Sientra is Responding to Recent Voluntary Chapter 11 News

2024-02-15 11:12:47 ET

DENVER, Colo., Feb 15, 2024 (www.247marketnews.com)- Sientra, Inc. (NASDAQ: SIEN ) announced, on Tuesday, that it filed for Chapter 11 protection in the United States Bankruptcy Court on Monday and further disclosed that it intends to pursue a sale of its business under Section 363 of the Bankruptcy Code, while continuing to support its customers during the Chapter 11 process.

Sientra is trading at $0.34, up $0.16 (87.89%), on trading volume of 19M shares. Its trading high this morning is $0.609 and is trying to form a new base for another potential move higher.

“Our goal is to emerge from this process with increased financial stability and positioned for long-term success under new ownership, and we are very encouraged that multiple parties have expressed interest in an acquisition of Sientra,” said Ron Menezes, Sientra’s President and Chief Executive Officer. “We look forward to the opportunity to become part of an organization that understands the value of our broad product portfolio and legacy in plastic surgery. In the interim, we remain focused on providing our customers with quality service, continuous manufacturing, and access to our products.”

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