The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Enjoy Technology, Inc on July 26, 2022. The Court approved the asset purchase agreement between the debtor and Asurion, LLC, the stalking horse bidder, for substantially all its assets. To qualify as a qualified bidder, interested parties should submit their bids by August 8, 2022.

If the debtor receives any qualified bid then it would hold an auction for its assets on August 9, 2022. At the auction, the subsequent bids would be in increments of equal to or greater than $0.50 million. The stalking horse bidder would be entitled to a break-up fee of $2.59 million in case of termination of the asset purchase agreement.

The sale hearing is scheduled for August 12, 2022.