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    SOUPQ   US8361191070

SOUPMAN, INC.

(SOUPQ)
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Bidding Procedure Approved for The Original Soupman, Inc.

07/18/2017 | 12:00am EDT

The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of The Original Soupman, Inc. on July 18, 2017. The Court approved the sale of substantially all the assets of The Original Soupman, Inc. through a public auction. Each qualified bidder must make a good faith deposit of 10% of the proposed purchase price. To qualify as a qualified bidder, interested parties should submit their bids by August 24, 2017. The debtor has scheduled an auction on August 28, 2017. At the auction, the subsequent bids would be in increments of $0.03 million. The stalking horse bidder would be entitled to a break-up fee of 3% of the purchase price and expense reimbursement of $0.03 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for August 29, 2017.


ę S&P Capital IQ 2017
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Managers and Directors
Michael Wyse Chief Financial & Restructuring Officer
Daniel A. Rubano Senior VP-Operations & Franchise Development
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