THQ (THQI -58.7%) has resumed trading following news of its bankruptcy filing: shares have plunged to a mere $0.57. The debt-laden company says Chap. 11 filing is accompanied by a deal to sell "substantially all" of its operating assets to P-E firm Clearlake Capital for a total consideration of $60M (includes a $10M note for THQ's creditors). THQ has also obtained $37.5M in debtor-in-possession financing from Clearlake and Wells Fargo.
THQ (THQI -58.7%) has resumed trading following news of its bankruptcy filing: shares have...
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