COPSync’s sale of assets were approved by the U.S. Bankruptcy Court. Kologik Capital purchased the company through a stalking horse bid and is providing $300 million in DIP financing.

COPSync, a technology company that connects law enforcement officials across the nation, announced restructuring plans in April.

In September, Kologik Capital submitted a stalking horse bid to purchase the company. COPsync will sell its assets in return for a combination of credit, cash and equity. In addition to the stalking horse APA, Kologik purchased an assignment of the Dominion credit facility from Dominion on September 29, 2017 and, as a result, is now the holder of that credit facility.

Kologik is credit bidding the sum of $1 million as a part of its bid under the stalking horse APA. Kologik also agreed to assist in funding COPsync’s emergency cash needs through a secured note in the amount of $15,000 issued September 22, 2017 and a secured note in the amount of $16,597.46 that were perfected by a UCC-1 filed in Delaware on September 25, 2017.

Finally, Kologik agreed to assist COPsync with its post-petition cash needs by helping fund a $300,000 DIP loan through an affiliated company.