The US Bankruptcy Court gave an order approving the bidding procedures relating to sale of the substantially all the transferred assets of Premier Exhibitions, Inc. and RMS Titanic Inc. on September 13, 2018. The Court approved the asset purchase agreement between the debtor and Premier Acquisition Holdings LLC, the stalking horse bidder, for the sale of substantially all its transferred assets for a purchase price of $17.50 million in cash. To qualify as a qualified bidder, interested parties should submit their bids by October 5, 2018. The initial minimum overbid should be of at least $21.50 million. If the debtor receives any qualified bids then it would hold an auction for its assets on October 11, 2018. At the auction, the subsequent bids would be in increments of $0.50 million. The stalking horse bidder would be entitled to a break-up fee of $0.53 million and expense reimbursement of $0.97 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for October 18, 2018.