GT Advanced Technologies Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on November 2, 2015. The debtor seeks the Court's approval for the sale of its certain assets to the winning bidder through an auction. The debtor's assets include ASF Furnaces and related equipment currently located at the facility in Mesa, Arizona.

The debtor has scheduled an auction on November 23, 2015. On November 25, 2015, title to an ASF furnace located at Mesa Facility not sold in the auction will be transferred to Apple, Inc. Apple agrees that it will scrap all of the Excess Furnaces at its own cost and expense with proceeds from the scrapping of such furnaces, net of the costs of such scrapping, to be distributed equally by the debtor and Apple Inc. The proceeds from the sale would be shared equally by the debtor and Apple Inc.