Coin Cloud designates RockitCoin as stalking horse bidder for assets

By Sarah Lizee

Olympia, Wash., April 26 – Cash Cloud, Inc., which does business as Coin Cloud, has chosen RockitCoin, LLC to act as stalking horse bidder for its assets, according to a notice filed Tuesday with the U.S. Bankruptcy Court for the District of Nevada.

The assets include all non-rejected digital currency machine locations and all the debtor’s assets and contracts needed to operate those locations and service those customers, including assumption by the buyer of associated cure costs and payment of certain critical vendor liabilities. The assets also include the debtor’s Brazil operation.

The purchase price is comprised of a cash amount of $16.75 million, of which $250,000 will be used to fund a litigation trust, plus the payment of cure costs and the assumption of liabilities.

Bid protections include a breakup fee of 3% of the purchase price at the time of the purchase agreement plus $150,000.

The Las Vegas-based digital currency machine company filed bankruptcy on Feb. 7 under Chapter 11 case number 23-10423.

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