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13D Filing: Deerfield Management and Nuo Therapeutics, Inc. (NUOT)

As revealed in a new filing with the Securities and Exchange Commission, James Flynn‘s Deerfield Management disclosed an almost 10% activist stake in Nuo Therapeutics Inc (OTCMKTS:NUOT). According to the 13D filing, Deerfield owns around 159.92 million shares of Nuo Therapeutics. Nuo has recently filed for Chapter 11, and in connection with this, Deerfield said in the filing:

“On January 26, 2016, the Company filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). In connection with such filing, the Funds intend to provide up to $9 million of debtor-in-possession financing, of which $4.5 million would be used to refinance outstanding indebtedness under the Facility Agreement and Notes, subject to approval by the Bankruptcy Court. There can be no assurance that the Bankruptcy Court will approve such financing.

In connection with the Company’s bankruptcy case, the Funds intend to bid for certain assets of the Company, including assets related to the Company’s Angel Concentrated Platelet Rich Plasma System and the Aurix System technologies. The Reporting Persons anticipate that any such bid would be effected pursuant to an asset purchase agreement, would be subject to approval by the Bankruptcy Court, and would be subject to customary conditions, including (but not limited to) a determination that any such bid constitutes the highest and best offer in any auction that may be held in connection with the bankruptcy case. However, there can be no assurance that any such asset sale will be consummated or whether an alternative restructuring plan will be proposed by the Company or any other party or effected.”

You can access the original SEC filing by clicking here.

Page 1 of 10 SEC Filing

Washington, D.C. 20549
[Rule 13d-101]
(Amendment No. 4)*
Nuo Therapeutics, Inc.

(Name of Issuer)
Common Stock, par value $0.0001 per share

(Title of Class of Securities)

(CUSIP Number)
David Clark
Deerfield Mgmt, L.P.
780 Third Avenue, 37th Floor
New York, New York  10017
(212) 551-1600
With a copy to:
Elliot Press, Esq.
Katten Muchin Rosenman LLP
575 Madison Avenue
New York, New York  10022
(212) 940-8800

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
January 26, 2016

(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.
Note:   Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 10 Pages)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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