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Last day Spansion listed on NASDAQ: emerge from Chapter 11 in 4Q09

06 May 2009 | By Mark Osborne | News > Fab Management

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With cash of US$195 million as of April 27, NOR flash memory provider Spansion Inc. is hoping to gain court approval for its restructuring plan by the fourth quarter of 2009 and emerge from Chapter 11 bankruptcy. Spansion said that negotiations with creditors were progressing. However, it will be delisted from the NASDAQ stock market at the end of trading today.

Spansion also said that it would seek a future listing on a major exchange after restructuring and in a time appropriate. Of its cash balances, US$110 million is in the United States.

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Reader comments

i was hoping for a buy out
By jack dooley on 06 May 2009

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