XCOR Assets to be Auctioned Off

Chine panels being fitted to the side of the Lynx. (Credit: XCOR)

An update on XCOR from Bloomberg:

Motion for Asset Sale Filed by XCOR Aerospace, Inc.
Jan. 26, 2018

XCOR Aerospace Inc., filed a motion in the US Bankruptcy Court for the sale of its certain assets on January 26, 2018. The debtor seeks the Court’s approval for the sale of its certain assets to highest bidder, for a purchase price of $1 million in cash pursuant to the asset purchase agreement. The debtor’s assets include personal property of debtor. The initial minimum overbid should be $0.01 million more than the initial purchase price. At the auction, the subsequent bids would be in increments of $0.1 million. The buyer would be entitled to a break-up fee of $0.01 million & administrative expense reimbursement of $0.02 million to trustee. The sale hearing is scheduled for February 20, 2018.