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Lensar files for Chapter 11 bankruptcy in restructuring plan
In a strategic restructuring, Lensar Inc. has filed a Chapter 11 bankruptcy petition with support from PDL BioPharma Inc., the company announced in a press release.PDL, Lensar’s senior secured lender, will assist the company in paying all of its employee obligations and current operating expenses, the release said. A plan to reduce Lensar’s debt and convert some of PDL’s debt into equity is expected to be filed.