Premier Exhibitions, Inc. and RMS Titanic Inc. filed a motion in the US Bankruptcy Court for sale of substantially all its transferred assets on June 15, 2018. The debtor seeks the Court’s approval for the sale of substantially all its assets to Premier Acquisition Holdings LLC, the stalking horse bidder, for a purchase price of $17.50 million in cash pursuant to the asset purchase agreement, dated June 14, 2018. To qualify as a qualified bidder, interested parties should submit their bids by August 8, 2018, along with good-faith deposit in the amount of $1.75 million. The initial minimum overbid should be in the amount of at least $19 million. The debtor has scheduled an auction on August 13, 2018. At the auction, the subsequent bids would be in increments of $0.50 million. The stalking horse bidder would be entitled to a break-up fee of $0.53 million and expense reimbursement of $0.47 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for August 13, 2018, if no auction occurs and for August 15, 2018, if auction occurs. Greenberg Traurig, P.A. and Bracewell LLP has been appointed as legal advisors to the buyer and Troutman Sanders, LLP is hired as legal counsel to the seller.