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Intraop Medical Corp Proposes September 12 Bankruptcy Auction; Earlier Firsthand Technology Value Fund Inc Submitted $15 Million Offer-DJ


Wednesday, 17 Jul 2013 12:07pm EDT 

Dow Jones reported that IntraOp Medical Corp has proposed to sell the business at a September 12 auction. The auction, which already has a $15 million offer from tech investor Firsthand Technology Value Fund Inc., would help executives at the 32-worker company pay off its debts. IntraOp, of Sunnyvale, Calif., filed for Chapter 11 protection after an expensive redesign of the Mobetron machine, which puts small doses of radiation directly onto the spot where a cancer patient's tumor was removed. In papers filed in U.S. Bankruptcy Court in San Jose, Calif., IntraOp Medical attorneys asked a judge to sign off on a quick sale timeline. Company officials proposed to hold a September 16 hearing for the court to review the auction's top offer. 

Company Quote

20.81
0.19 +0.92%
24 Apr 2014