Gordon Brothers Commercial & Industrial, LLC /
Akoustis Technologies, Inc.
Gordon Brothers to purchase Akoustis assets in bankruptcy sale process
What happened
Akoustis Technologies, Inc. agreed to a stalking horse asset purchase agreement under which an affiliate of Gordon Brothers Commercial & Industrial, LLC would purchase substantially all of the Debtors’ specified equipment and other assets. The transaction remains subject to court approval and a sale process that allows higher or otherwise better offers.
The purchase price is $10.0 million, subject to certain deductions. Terms include a possible reduction if the closing occurs more than 52 days after the Petition Date.
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Gordon Brothers to purchase Akoustis assets in bankruptcy sale process
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