Teligent (TLGT) Stock Tries To Recover From The Dip: Is It An Expected Breakout?

Today the healthcare company surges 4.22%, accounting for a $0.0135 increase in the price value. It could be noticed that Teligent aims to recover the chart from the dip that occurred on October 5, when the company accomplished the mark of $0.31. Today, it reached the point of $0.3332, showing positive dynamics.

Due to the sharp dip, the monthly statistics show an 18.73% decrease. Recently, Teligent has filed for voluntary protection on Chapter 11 of the U.S. Bankruptcy Code to continue the sale process aimed at maximizing the value of the company.

Immediately, after signing a voluntary protection agreement, Teligent started a marketing process on Chapter 11. Also, it has begun the discussion with interested companies. By early 2022, the firm intends to have completed the sale of the whole business or its key assets.

Meanwhile, Teligent Canada, Teligent’s Canadian business, will execute an out-of-court transaction. Amid the new rules in the company, Teligent also proclaims changes in team members. It appointed Vladimir Kasparov to the post of Chief Restructuring Officer.