Item 1.03 Bankruptcy or Receivership.

On March 20, 2020, the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") approved the sale by Valeritas Holdings, Inc. (the "Company") and certain of its subsidiaries (collectively, the "Sellers") of substantially all of the Sellers' assets (the "Asset Sale") to Zealand Pharma A/S ("Zealand") pursuant to that certain asset purchase agreement, dated as of February 9, 2020, as amended on March 17, 2020, by and among the Sellers and Zealand, as the stalking horse bidder. Closing of the Asset Sale is now expected to close on or around April 2, 2020.

In addition, on March 20, 2020, the Bankruptcy Court approved a global settlement (the "Settlement") among the Company, its prepetition lenders, and the Official Committee of Unsecured Creditors that will facilitate a consensual exit from the Company's voluntary Chapter 11 filing and provide a pathway for a possible recovery for the Company's unsecured creditors.

The Company cautions that trading in its securities during the pendency of the Chapter 11 proceedings is highly speculative and poses substantial risks. Trading prices for the Company's securities may bear little or no relationship to the actual recovery, if any, by holders of the Company's securities in the Chapter 11 proceedings. Based upon the current proceeds available from the asset sale to Zealand, after payment to the Company's postpetition lenders and the other secured lenders and the payment of other liabilities, there will not be any proceeds available for distribution to the holders of the Company's common stock.




Item 8.01   Other Events.

On March 20, 2020, the Company issued a press release announcing (i) approval by the Bankruptcy Court of the Asset Sale and (ii) the Settlement.

A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.




(d) Exhibits
Exhibit Number                 Description

     99.1          Press Release dated March 20, 2020.

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