Tintri, Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on July 18, 2018. The debtor seeks the Court’s approval for the sale of substantially all its assets to TI Acquisition Corp., a wholly owned subsidiary of DataDirect Networks, Inc., the stalking horse bidder, for a purchase price of $52.5 million consisting $25 million as cash plus the assumption of $27.5 million of the Debtor’s indebtedness to TriplePoint and pursuant to the asset purchase agreement, dated July 18, 2018. To qualify as a qualified bidder, interested parties should submit their bids by August 23, 2018, along with good-faith deposit in the amount of $0.15 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 August 27, 2018. At the auction, the subsequent bids would be in increments of $0.1 million. The stalking horse bidder would be entitled to a break-up fee of $1.2 million and expense reimbursement of $0.4 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for August 28, 2018. The closing shall be held no later than September 7, 2018. Manatt, Phelps & Phillips, LLP has been appointed as legal advisor to the buyer.