The US Bankruptcy Court gave an order approving the sale of substantially all the assets of J. C. Penney Company, Inc. on November 9, 2020. The debtor has been authorized to sell substantially all its assets to Copper Retail JV, LLC and Copper BidCo LLC for a purchase price of that include for OpCo - OpCo Credit Bid Amount, $629 million in cash, the Payoff Amount, plus 50% of the amount (if any) by which Estimated October EBITDA exceeds the Target October EBITDA, less, 50% of the amount (if any) by which Target October EBITDA exceeds Estimated October EBITDA, less, the Estimated Closing Cash, less, Proposed November Non-Operating Costs and assumption of the OpCo Assumed Liabilities and for PropCo - PropCo Credit Bid Amount and the assumption of the PropCo Assumed Liabilities.