Mergers & Acquisitions ·
Karyopharm files Chapter 11, agrees to merger with Ayrmid Ltd. and secures $55M DIP financing
KPTIKaryopharm Therapeutics Inc.
Karyopharm Therapeutics filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Texas. The company entered a Restructuring Support Agreement with existing lenders and noteholders to facilitate a merger between Ayrmid Ltd. and a reorganized Karyopharm, expected to close in Q1 2027. Ayrmid will serve as lead bidder in a court-supervised sale process that allows competing proposals. The company secured $55 million in debtor-in-possession financing from existing lenders to support operations during the bankruptcy proceedings. Existing common and preferred stockholders are expected to receive no distribution, resulting in a complete loss of value for current equity holders. Karyopharm Therapeutics is a commercial-stage pharmaceutical company developing therapies for cancer.