Biora Therapeutics, Inc. filed a motion in the US Bankruptcy Court for the sale of its substantially all its assets on January 6, 2025. The debtor seeks the Court?s approval for the sale of its substantially all its assets to SH Entity the stalking horse bidder, for a purchase price of $30 million. To qualify as a qualified bidder, interested parties should submit their bids by February 18, 2025, along with good-faith deposit in the amount of 10% of the bid price.
The initial minimum overbid should be at least $0.5 million. The debtor has scheduled an auction on February 20, 2025. The stalking horse bidder not entitled to a break-up fee and expense reimbursement.
The sale hearing is scheduled for February 25, 2025.
