Posts Tagged ‘Public Auction’


By public auction (the“Auction”) to be held on Friday, June 30,2017

at 2 P.M. Eastern, via telephone conference call, Hercules Capital, Inc.,

as agent (“Agent”) for Secured Party will sell or otherwise dispose of

substantially all of the assets (the “Collateral”) of Gamma Medica, Inc.,

a Delaware corporation (the “Debtor”) to one or more Pre-Qualified

Bidders (defined below).

Agent reserves the right to credit bid for the Collateral.The aggregate

amount of principal, interest, legal fees, costs and expenses due from

Debtor as of June 16,2017,is $1,836,866.38.

To be deemed a “Pre-Qualified Bidder”, interested parties are

required to deliver to Agent’s counsel, not less than 72 hours prior to

the commencement of the Auction: (1) a letter of representation from

a U.S. attorney; (2) a standby letter of credit for not less than $250,000

OR a wire transfer of $250,000 in immediately available funds to the

Cole Schotz P.C. Attorney Trust Account (with wire instructions to be

provided upon request);(3) adequate assurance of the ability to close on

the purchase of Collateral, including (i) information about the bidder’s

financial condition such as federal tax returns for not less than two (2)

years, a current financial statement, and/or bank account statements,

(ii) information demonstrating (in the Agent’s reasonable business

judgment) that the bidder has the financial capacity to purchase some

or all of the Collateral at the Auction, and (iii) evidence that the bidder

has obtained authorization or approval from its board of directors (or

comparable governing body) with respect to its participation in the

Auction and purchase of Collateral; (4) full disclosure of the identity of

the bidder (including without limitation all affiliates, equity sources

or other parties that will be associated with such bid or will otherwise

participate in connection with such bid, and the complete terms of any

such participation);and (5) an executed non-disclosure agreement,in a

form available fromAgent’s Counsel,fromthe bidder.

Upon inquiry to Agent’s Counsel, each Pre-Qualified Bidder will be

provided with specific information pertaining totheCollateral.

The Agent hereby reserves the right to cancel,postpone or re-notice

the time, date and/or method of the Auction at any time. All inquiries

with respect to the Auction should be directed to Agent’s Counsel



Date: June20,2017

Cole Schotz P.C.,Agent’s Counsel, Stuart Komrower, Esq., skomrower@

coleschotz.com,Cole Schotz P.C.,Court Plaza North,25Main Street,P.O.

Box 800,Hackensack,NewJersey 07602,(201) 489-3000

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