WHAT IS A BUYER'S PREMIUM?
Posted on 10/06/2019
SALE OF ASSETS
Electriq Power, Inc.
Chapter 7 Bankruptcy
Case No. 24-14427-MAM
Electriq Power Holdings, Inc.
Chapter 7 Bankruptcy
Case No. 24-15235-MAM
Robert C. Furr, Bankruptcy Trustee
Moecker Auctions, Inc. has been appointed to handle the liquidation of assets valued in excess of $18M+ owned by Electriq Power, Inc. and Electriq Power Holdings, Inc. in their Chapter 7 bankruptcy proceedings. The assets to be liquidated include advanced solar energy storage solutions, smart home battery backup systems, related product lines, software support and technologies, warehouse equipment, tools, hardware, machinery and intellectual property. We are accepting bids concurrently for a bulk offering of all Electric Power assets and by product category, such as those interested in acquiring the battery lines, software, IP, etc.
General details:
Bid submission deadline: Monday, July 1, 2024 at 5:00 PM
Good faith deposit: Bidders are required to submit a good faith deposit along with their bid. The deposit should be the greater of $100,000 or ten percent of the proposed purchase price for the property. This deposit must be wired to the trust account of Furr and Cohen, P.A., with wiring instructions available upon request.
Inspection | Preview date: Inspection is available on Friday, June 28, 2024 by appointment.
Asset location: San Leandro, CA and Oxnard, CA
Successful Bid: Following the approval of the Successful Bid at the Sale Hearing, the Closing of the transaction is scheduled to take place promptly after the entry of the Sale Order. The Closing Date is set no later than July 24, 2024, provided that certain conditions are met, such as obtaining a waiver of the 14-day stay pursuant to R. Bankr. P. 6004(h).
Auction: In the event the Trustee receives more than one timely Qualified Bid by the Bid Deadline, then the Trustee will conduct a virtual public auction. The Auction shall take place on July 8, 2024, beginning at 10:00 AM EST or such other time or place as the Trustee shall notify all Qualified Bidders.
Buyer’s Premium: There will be no buyer’s premium.
Check-out | Removal date: TBD
Payment deadline: Full payment is due prior to July 24, 2024.
Shipping: Packing and shipping services are not provided.
Contact Michael Shirinian at mshirinian@moeckerauctions.com to request access to various evaluation materials (such as inventory, bid/auction procedures, municipal contracts, records, data, agreements, additional photos/video etc.) or call (954) 252-2887 for more information.
Partial terms of sale:
1. Condition: All items are as is, where is, with no warranty expressed or implied.
2. Registration: Must be 18+ years old to participate. Bidder must register online with a valid account and credit card.
3. Buyer’s Premium: 0% BP.
4. Inspection: All bidders are welcomed to inspect the property prior to placing a bid. Bidders shall be the sole judge of value, condition, age, genuineness, authenticity, defectiveness, or any other determinative factor.
5. Withdrawal/Cancellation: Moecker Auctions reserves the right to withdraw from sale any of the items listed in the catalog/brochure before, during, or after the auction without liability. Moecker Auctions reserves the right to cancel the sale at any time for any given reason.
#moeckerauctions
Details at moeckerauctions.com/2024/06/11/electriq-power-inc/
