Casa Systems, Inc filed a motion in the US Bankruptcy Court for the sale of certain assets on April 3, 2024. The debtor seeks the Court?s approval for the sale of its certain assets to the stalking horse bidder, for a consideration for the purchase of the Transferred Assets shall be $20 million, plus the assumption of the Assumed Liabilities, including Determined Cure Costs. The debtor?s assets include Cable business and related assets.

To qualify as a qualified bidder, interested parties should submit their bids by May 13, 2024, along with an aggregate amount equal to the deposit escrow deposit in the amount of $2 million. The initial minimum overbid should be at least $0.15 million more than the initial purchase price. The debtor has scheduled an auction on May 15, 2024.

The stalking horse bidder would be entitled to a break-up fee and expense reimbursement of $0.38 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for May 31, 2024.