The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Pear Therapeutics, Inc. on April 28th, 2023. The debtor seeks the Court's approval for the sale of substantially all its assets to the successful bidder. To qualify as a qualified bidder, interested parties should submit their bids by May 15, 2023, along with good-faith deposit in the amount of 10% of the bid price.

The stalking horse bidder would be entitled to a break-up fee and expense reimbursement in case of termination of the asset purchase agreement. The debtor has scheduled an auction on May 18, 2023. The sale hearing is scheduled for May 22, 2023.