Urthecast Corp LFDEF

RE:RE:Things getting interesting

[Invest2020]

I suspect we will hear something in a new monitors report next week. 

Phase I: Solicitation and Submission of Non-Binding LOI’s 43. Phase I of the Proposed SISP includes the following stages: a) Potential Bidders that have executed an NDA will be provided a copy of the binding agreement originating from Stalking Horse Offer (the “Definitive Stalking Horse Agreement”); b) Potential Bidders will have the opportunity to complete preliminary due diligence on the assets of the Petitioners with respect to a sale or investment in: i. the entirety of UrtheCast Group; ii. the Designated Assets pursuant to the Stalking Horse Offer; or iii. the Other Core Assets. c) non-binding letters of intent (each a “Non-Binding LOI”) to be submitted on or before November 13, 2020; and 12 d) review and assessment of Non-Binding LOI’s and qualification of potential purchasers for participation in Phase II. Phase II: Submission of Sale Agreement or Investment/Restructuring Agreement 44. Phase II of the Proposed SISP includes the following stages: a) Potential Bidders that submitted qualified Non-Binding LOI’s will be provided the opportunity to perform further due diligence; b) Potential Bidders will prepare and submit a final binding proposal (“Final Agreement”) in the form of a purchase and sale agreement or an investment/restructuring agreement on or before November 18, 2020; and c) a period for Review and Assessment of the Final Agreements by the Petitioners, in consultation with the Monitor.