Core Viewpoint - Fresh Tracks Therapeutics, Inc. has filed an Answer to a Delaware Petition requesting the appointment of a custodian to oversee the potential dissolution of the company [1][2]. Group 1: Delaware Petition and Custodian Appointment - The Delaware Petition was filed by David R. McAvoy, a stockholder and former General Counsel, seeking the appointment of Albert N. Marchio, II as custodian to manage the dissolution process of Fresh Tracks [1][2]. - The requested actions for the custodian include dissolving the company, winding down affairs, and distributing cash to stockholders [2]. Group 2: Actions Proposed in the Answer - The Answer outlines the company's agreement with the petition, detailing steps such as filing a certificate of dissolution, marshalling assets, and paying liabilities [2]. - It also includes provisions for reserving funds for potential future claims and distributing remaining cash to stockholders in a pro rata manner [2]. Group 3: Court Proceedings - The Court of Chancery has not yet set a hearing date regarding the Delaware Petition, and the company plans to keep investors informed through future press releases [3].
Fresh Tracks Therapeutics Announces Delaware Petition Filed Seeking Appointment of Custodian for Eventual Dissolution of Company