A single takeover offer has been submitted for Pixium Vision, the bioelectronics company announced on Tuesday, as it fights for its survival.

The company, which develops vision systems designed to enable sight-impaired patients to live more independently, reports that its receivers yesterday received a takeover offer for its assets and activities.

However, Pixium warns that in the current state of the offer - and given its current level of indebtedness - the proceeds received from the sale of the company's assets as part of the insolvency proceedings are unlikely to enable shareholders to be reimbursed in full or in part.

The date of the hearing to examine the takeover offer will be set by the Paris Commercial Court between now and the end of November.

In recent weeks, Pixium had been placed in safeguard proceedings and then in receivership.

Listed on the Paris stock exchange, Pixium's share price fell by 17% following this news, bringing its fall since the start of the year to over 96%.

Copyright (c) 2023 CercleFinance.com. All rights reserved.