Allied Healthcare Products, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on May 8, 2023. The debtor seeks the Court's approval for the sale of its certain assets to Allied Medical, LLC, the stalking horse bidder, for a purchase price of $4.5 million in cash plus an amount equal to ninety-five percent (95%) of the aggregate total of the Receivables less the Zero Rated Receivables as of the date of Closing; minus (d) Customer Credits as of the closing date pursuant to the asset purchase agreement dated May 7, 2023. The debtor's assets include substantially all of the St.

Louis Assets. To qualify as a qualified bidder, interested parties should submit their bids by June 16, 2023, along with good-faith deposit in the amount of 10% of the bid price. The initial minimum overbid should be at least 5.5% more than the initial purchase price.

The debtor has scheduled an auction on June 21, 2023. At the auction, the subsequent bids would be in increments of 1.9% of the Initial stalking horse purchase price. The purchaser reimbursable expenses shall not exceed 3.5% of the aggregate purchase price, and the amount attributable to attorney fees shall not exceed 1% of the aggregate purchase price.

The bidding procedure hearing is scheduled on May 30, 2023 and sale hearing is scheduled for June 30, 2023. The proceeds from the sale would be used to pay off the amount owed to the debtor's pre-petition lender. The outside date for closing is October 1, 2023.