Business Overview
About the Company
Asset Sale Description
Asset Sales subject to a Chapter 11 363 Motion Free and Clear
Company Summary:
Double L is a farm equipment manufacturer specializing in potato equipment\. It manufactures the planters that put seeds in the ground, harvesters that dig potatoes, and the equipment for conveying, handling, cleaning, and loading potatoes into storage or trucks\.
Detailed Information
All Inventory \(parts\), Equipment, Vehicles, used finished equipment, Intellectual Property, Drawings and Engineering, Trademarks, Trade names, Patents, Accounts Receivable, and other minor assets are included\. The sale is subject to a Stalking Horse agreement with a minimum opening bid of $2,279,000, subject to continued overbidding\. A copy of the Stalking Horse Asset Purchase Agreement is available in the Data Room for those who sign a Non\-Disclosure Agreement\.
Financing:
All cash at closing in late December, in accordance with the court's timeline
Reason for Selling:
Proceeds will be used to pay creditors in the bankruptcy plan
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