Surgical aesthetics company, Sientra, Inc. (SIEN), announced on Tuesday that it filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware for the sale of its business.
Following the announcement, Sientra's stock plummeted 65.81 percent, to $0.20 over the previous close of $0.585 on the volume of 1,635,724 on the Nasdaq. It had traded between $0.25 and $4.93 in the past 52 weeks.
The company further stated that it will utilize $22.5 million debtor-in-possession financing from existing lenders, which also includes an additional $67.5 million of Sientra's prepetition debt obligations, along with existing cash reserves to support the ongoing operations.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.