CareMax, Inc. filed a stalking horse agreement in the US Bankruptcy Court for the sale of its certain assets on November 25, 2024. As per the agreement dated November 24, 2024, seeks the Court?s approval for the sale of its certain assets to ClareMedica Viking, LLC, the stalking horse bidder, for a purchase price in the amount equal to the closing payment of $35 million, plus the rollover amount of $65 million, plus assumption of certain liabilities. The debtor?s assets include core center assets.
The buyer would be entitled to a break-up fee of $1.25 million and expense reimbursement of $2.25 million in case of termination of the asset purchase agreement. The transaction is expected to close on February 3, 2025. The buyer is represented by Thomas E. Zahn of McGuireWoods LLP as its legal advisor and the debtor is represented by Joshua Samek and Gabriel Valdes of Sidley Austin LLP as its legal advisors.
