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Interleukin Genetics to Liquidate

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On July 24, 2017, Interleukin Genetics, Inc. announced the adoption of a plan to wind-up and liquidate the Company subject to shareholder approval. In an effort to preserve capital for shareholders and the satisfaction of debtors, the Company will begin the process of delisting under Section 12(b) of the Securities Act and deregister its issued stock under Section 15(d) of the Securities Act. “While this decision was extremely difficult, the Company has fully pursued and vetted all other options,” said Mark Carbeau, Chief Executive Officer. “We believe this path provides the best opportunity to provide payments to our outstanding debtholders and, if any, to shareholders. We are hopeful that our technology will continue to benefit patients through further development by acquirers.” Read more on distressed companies.

 

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