Stalking horse offer

Paper Source, Inc. Announces Acceptance of Stalking Horse Bid by MidCap Financial

Retrieved on: 
Tuesday, March 2, 2021
Deities, Gods, Apollo Global Management, Drexel Burnham Lambert, Omnichannel, Midcap, Stalking horse offer, Paper Source, Apollo

2, 2021 /PRNewswire-PRWeb/ --Paper Source, the nation's premier omnichannel retailer of cards, gifts, party supplies and fine paper, announced today that they will accept a stalking horse bid from a syndicate of lenders led by MidCap Financial to purchase substantially all of the Company's assets.

Key Points: 
  • 2, 2021 /PRNewswire-PRWeb/ --Paper Source, the nation's premier omnichannel retailer of cards, gifts, party supplies and fine paper, announced today that they will accept a stalking horse bid from a syndicate of lenders led by MidCap Financial to purchase substantially all of the Company's assets.
  • "We are very pleased to have the full support of our lenders led by MidCap Financial.
  • All Paper Source stores will remain open across the country and will continue to operate safely within applicable COVID-related guidelines.
  • MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement.

francesca's® Announces Court Approval of Sale Process and Entry Into Stalking Horse Asset Purchase Agreement

Retrieved on: 
Friday, January 8, 2021
Bankruptcy, Stalking horse offer, Stalking horse, Auction, Asset purchase agreement, Articles

Bankruptcy Court for the District of Delaware(the Court) has authorized francescas to conduct an auction process for the Company.

Key Points: 
  • Bankruptcy Court for the District of Delaware(the Court) has authorized francescas to conduct an auction process for the Company.
  • Today, the Company announced the execution of the stalking horse Asset Purchase Agreement (the Stalking Horse APA) with TerraMars affiliate, Francescas Acquisition, LLC, and with Tiger Capital Group, LLC (collectively, the Buyers).
  • The Stalking Horse APA sets the minimum acceptable bid at the auction and will be subject to higher or better offers.
  • "We are pleased to announce the signing of a Stalking Horse Agreement with the Buyers and that the court has authorized us to proceed with the bid, auction and sale process.

Stein Mart Is Latest Brand Added to Retail Ecommerce Ventures' Stable; Site Expected to be Re-Launched in Early 2021

Retrieved on: 
Wednesday, December 2, 2020
Greenville, Mississippi, Jacksonville Modern architecture, Stein Mart, Stalking horse offer, Auction, Retailers, Retailing, Service companies

REV's new majority-owned subsidiary, Stein Mart Online Inc., submitted the winning bid of $6.02 million at the November 18 court auction, topping other offersincluding the subsidiary's original $4.0 million stalking horse bid.

Key Points: 
  • REV's new majority-owned subsidiary, Stein Mart Online Inc., submitted the winning bid of $6.02 million at the November 18 court auction, topping other offersincluding the subsidiary's original $4.0 million stalking horse bid.
  • The winning bid was officially approved on November 23 by the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division.
  • REV Executive Chairman Tai Lopez said Stein Mart was a pioneer in taking an off-price brick and mortar retail concept online.
  • Retail Ecommerce Ventures(REV) was founded byAlex MehrandTai Lopezin 2019 to renew businesses that have struggled in the age of ecommerce.

NPC International Enters Into $816 Million Stalking Horse Asset Purchase Agreement with Flynn Restaurant Group

Retrieved on: 
Friday, November 6, 2020
Professional services, Retail, Restaurant, Bar, Finance, Banking, Food, Beverage, Bankruptcy, Stalking horse offer, Articles, Davis Wright Tremaine, Flynn, Stalking, Behavior, Human behavior

NPC International, Inc. (NPC or the Company) announced today that it has entered into a stalking horse asset purchase agreement (the APA) with Flynn Restaurant Group LP through certain of its subsidiaries (Flynn) and will seek approval of Flynn as the stalking horse bidder from the U.S. Bankruptcy Court for the Southern District of Texas (the Court).

Key Points: 
  • NPC International, Inc. (NPC or the Company) announced today that it has entered into a stalking horse asset purchase agreement (the APA) with Flynn Restaurant Group LP through certain of its subsidiaries (Flynn) and will seek approval of Flynn as the stalking horse bidder from the U.S. Bankruptcy Court for the Southern District of Texas (the Court).
  • Flynn has committed to offer employment to substantially all of NPCs more than 30,000 full and part time employees.
  • A court hearing to approve Flynn as the stalking horse bidder will take place on November 13, 2020.
  • Davis Wright Tremaine LLP and Kirkland & Ellis LLP are serving as legal counsel to Flynn Restaurant Group LP.

Shiloh Industries, Inc. to Proceed with Sale to Grouper Holdings, LLC, a Subsidiary of MiddleGround Capital

Retrieved on: 
Thursday, October 29, 2020
Manufacturing, Other Manufacturing, Steel, Packaging, Engineering, Bankruptcy, Stalking horse offer, Auction, Shiloh Industries, Inc., MiddleGround Capital

We are confident that they will be a strong partner as we enter this new chapter for our company.

Key Points: 
  • We are confident that they will be a strong partner as we enter this new chapter for our company.
  • Importantly, we expect the transaction to be completed quickly and the transition to be seamless for our customers, partners and dedicated employees.
  • On August 30, 2020, MiddleGround was named the stalking horse bidder in a court-supervised auction and sale process.
  • Accordingly, a hearing to seek required Court approval for the MiddleGround transaction is scheduled for November 10, 2020.

Force 10 Partners Selected to Realign YogaWorks' Core

Retrieved on: 
Monday, October 26, 2020
Bankruptcy, Economy, Finance, Money, Stalking horse offer, Forensic accounting, Restructuring, Valuation

YogaWorks, Inc, has entered into a purchase agreement with Serene Investment Management LLC as part of the process.

Key Points: 
  • YogaWorks, Inc, has entered into a purchase agreement with Serene Investment Management LLC as part of the process.
  • The process to secure Serene as a stalking horse bidder was overseen by Force 10's Adam Meislik, who is leading the California-based consulting firm's engagement with YogaWorks.
  • "Important people in my life are YogaWorks practitioners and I now share their passion and loyalty," said Meislik, a co-founder of Force 10.
  • Force Ten Partners, LLC ,is an advisory firm with deep domain knowledge in financial and operational corporate restructuring, valuation, forensic accounting, and complex litigation support.

Garrett Motion Preserves $2.6 Billion Stalking Horse Bid for Business

Retrieved on: 
Monday, October 26, 2020
Aftermarket, Automotive, General Automotive, Technology, Software, Hardware, Bankruptcy, Stalking horse offer, KPS Capital Partners, Stalking horse, Hydro Extruded Solutions, KPS, Articles

The bidding procedures permit Garrett to explore all options, including sales of Garrett for cash, sales of Garrett with co-investment rights offered to stakeholders, and stand-alone plans of reorganization.

Key Points: 
  • The bidding procedures permit Garrett to explore all options, including sales of Garrett for cash, sales of Garrett with co-investment rights offered to stakeholders, and stand-alone plans of reorganization.
  • Garrett also obtained on Friday approval of stalking horse bidding protections for affiliates of KPS Capital Partners, LP (KPS), including a $63 million dollar termination fee and expense reimbursement (subject to a limit of $21 million).
  • As previously disclosed, on September 20, 2020 Garrett and certain affiliates of KPS entered into a share and asset purchase agreement (SAPA) in connection with the proposed purchase of Garretts business, and, on October 19, 2020, KPS delivered a revised proposal in which KPS agreed to, among other things, increase its stalking horse bid by $500 million to $2.6 billion (the Stalking Horse Bid).
  • These stalking horse bidding protections will be payable by Garrett if the SAPA is terminated because Garrett decides to pursue a higher and better alternative or in certain other circumstances.

Garrett Motion Auction Process Yields Improved Bids

Retrieved on: 
Monday, October 19, 2020
Hardware, Aftermarket, Technology, Automotive, Software, Engines, Bidding, Sales, Garrett Motion, KPS, Stalking horse offer, Garrett, Turbocharger

Garrett Motion Inc. (Garrett) today announced that it has received an improved stalking horse bid from KPS Capital Partners, LP (KPS) with respect to a potential purchase of its business.

Key Points: 
  • Garrett Motion Inc. (Garrett) today announced that it has received an improved stalking horse bid from KPS Capital Partners, LP (KPS) with respect to a potential purchase of its business.
  • The anticipated dates for Garretts competitive process would be extended to provide Garrett with additional time to assess higher or better offers.
  • It followed invitations from Garrett to the members of the Bidding Group to join the competitive process alongside other bidders.
  • Our portfolio of turbocharging, electric boosting and automotive software solutions empowers the transportation industry to redefine and further advance motion.

Shiloh Industries, Inc. Enters Into Stock and Asset Purchase Agreement With Grouper Holdings, LLC, a Subsidiary of MiddleGround Capital

Retrieved on: 
Monday, August 31, 2020
Engineering, Automotive, Automotive Manufacturing, General Automotive, Manufacturing, Performance & Special Interest, Alternative Vehicles, Fuels, Auctions, Bankruptcy, Stalking horse offer, Middleground, Horses, Racehorses, Horse racing in the United States, Shiloh Industries, Inc., MiddleGround Capital

MiddleGround, via Grouper, will serve as the stalking horse bidder in a court-supervised auction and sale process.

Key Points: 
  • MiddleGround, via Grouper, will serve as the stalking horse bidder in a court-supervised auction and sale process.
  • Accordingly, the proposed transaction with MiddleGround is subject to higher or otherwise better offers, Court approval and other customary conditions.
  • The Companys operations will continue throughout the sale process and the Company will continue to meet customers needs.
  • We look forward to building on our unique strengths as part of MiddleGround, while improving Shilohs financial position for the long term.

Brooks Brothers Enters into $305 Million Stalking Horse Agreement with SPARC Group LLC

Retrieved on: 
Friday, July 24, 2020
Retail, Online Retail, Department Stores, Fashion, Bankruptcy, Stalking horse offer, SPARC

Brooks Brothers (the Company), Americas oldest apparel company, today announced that it has filed a motion in the United States Bankruptcy Court for the District of Delaware to obtain court approval of an asset purchase agreement with stalking horse bidder SPARC Group LLC (SPARC).

Key Points: 
  • Brooks Brothers (the Company), Americas oldest apparel company, today announced that it has filed a motion in the United States Bankruptcy Court for the District of Delaware to obtain court approval of an asset purchase agreement with stalking horse bidder SPARC Group LLC (SPARC).
  • Under the terms of the agreement, SPARC intends to purchase substantially all the Companys global business operations as a going concern for $305 million.
  • The asset purchase agreement and all relevant court documents for Brooks Brothers Chapter 11 case are available at http://cases.primeclerk.com/brooksbrothers .
  • SPARC Group LLC ("SPARC") is a global enterprise which designs, sources, manufactures, distributes, and markets apparel and accessories for men, women, and kids.