I have a story up at Sherdog.com on the latest developments in the Xyience bankruptcy proceeding, including promotional materials used to solicit bids on the company. The lead:
A buyer has been found for Xyience in its bankruptcy proceeding.FULL STORY: Xyience Auction Set for April 1
On Feb. 22, Xyience entered into a preliminary purchase agreement with Manchester Consolidated Corporation. Under terms of the agreement, Manchester will pay $15,017,000 for the company -- $200,000 in cash to Xyience plus the assumption of $14.8 million in secured debt held by Zyen, LLC.
However, the agreement is subject to a competitive bidding process that will culminate in a court auction on April 1, provided other qualified bidders express interest in purchasing Xyience.
