The US Bankruptcy Court gave an order approving the stalking bid agreement relating to the sale of substantially all its assets of American Virtual Cloud Technologies, Inc. on February 24, 2023. The Court approved the asset purchase agreement between the debtor and Skyvera, LLC, the stalking horse bidder, for the sale substantially all its assets for a purchase price of $3.25 million in cash plus the additional cash purchase price, if applicable, plus buyer's assumption of the assumed liabilities, minus the deferred revenue adjustment amount. The stalking horse bidder would be entitled to a break-up fee of $0.11 million in case of termination of the asset purchase agreement.