Quirky announced it has accepted a stalking horse bid of $2.3 million from Q Holdings for substantially all of its intellectual property. The assets include patents and applications, U.S and foreign registered trademarks, the Quirky inventor platform, 130 registered domains – including “Quirky.com” and proprietary software.
Advisory firm Hilco Streambank will hold an auction on November 17, 2015 at the offices of Cooley in New York.
The $2.3 million stalking horse bid is subject to competition from other qualified bidders at the auction. The minimum overbid of $2.475 million can be the result of either, a single bid for some or all of the assets scheduled in the stalking horse agreement that equals or exceeds $2.475 million; or, an aggregation of bids for individual assets that equal or exceed that amount.
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