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Published on 7/28/2021 in the Prospect News Distressed Debt Daily.

Katerra chooses VBC Tracy as stalking horse for California assets

By Sarah Lizee

Olympia, Wash., July 28 – Katerra, Inc. picked VBC Tracy LLC to serve as stalking horse bidder for its Tracy, Calif., facility and related assets, according to a notice filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The stalking horse agreement includes a 3% breakup fee and a $300,000 expense reimbursement.

As previously reported, Katerra picked Blue Varsity LLC, an affiliate of Mercer International Inc., to serve as stalking horse bidder for its Spokane, Wash., facility and related assets. That stalking horse agreement includes a 3% breakup fee and a 1% expense reimbursement.

An auction will be held on Aug. 2, and a sale hearing will be held on Aug. 5.

Katerra is a technology-enabled construction company based in Menlo Park, Calif. The company filed bankruptcy on June 6 under Chapter 11 case number 21-31861.


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