Codiak BioSciences, Inc. filed a motion in the US Bankruptcy Court for approval of auction procedures to select a Copia Scientific, LLC and Heritage Global Partners, Inc. as liquidation agent on April 7, 2023. The debtor seeks the Court's approval on sale agreement to conduct liquidation sales of all remaining assets. Pursuant to the sale agreement, the entity selected as the highest and best bidder at the auction and approved by the Court would purchase the Inventory for a guaranteed percentage of its net retail value and use its best efforts to sell the furniture, fixtures, and equipment for a commission.

The purchase price including a guaranteed minimum sale price of $3.3 million. The Auction(s) will be conducted on or about May 10, 2023, provided the Interim Order is entered by April 17, 2023, and the Final Order is entered on or before April 28, 2023. At all times the Auction will be conducted online at www.hgpauction.com.

The auctioneer will then retain the next $50,000 of gross sale proceeds in excess of the guaranteed minimum to cover expenses and partial compensation and auctioneer will charge each successful bidder its standard buyer's premium of 18% for its own compensation for auction services provided up to and including the actual auction event.