The US Bankruptcy Court gave an order approving the sale of certain assets of Orbital Infractructure Group, Inc. on October 5, 2023. The debtor has been authorized to sell its certain front line assets to Ocelot Bidco LLC,, the stalking horse bidder for a purchase price of $173 million in cash. The debtor?s assets include Property and Frontline asset.

The debtor did not receive any other competing bids for the purchase of its assets and therefore Ocelot Bidco LLC emerged as the winning bidder.