NOTICE OF 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
Indicatedbelow.
ALL OF THE AGENT’S RIGHTS ARE EXPRESSLY RESERVED.
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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