Notice of Qualified Bidders...look like Youfeng is

Notice of Qualified Bidders...look like Youfeng is joining the bidding.

Case 22-13166-PDR Doc 115 Filed 01/20/23

NOTICE OF QUALIFIED BIDDERS
Marc P. Barmat, Chapter 7 Trustee, by and through his undersigned counsel, hereby
gives notice that, as to the sale referenced in the Order Modifying Bid Procedures Granting
Related Relief and Setting Continued Hearing to Approve Modified Equity Purchase Agreement
(ECF No. 102) (“Order”), the following bidders have qualified to bid at the auction on January
30, 2023 at 9:30 a.m. via Zoom videoconferencing (the "Auction", or such other time or place as
the Trustee may shall notify the Qualified Bidders:
 Stalking Horse Bidder: Bio & Med Tech of the Future SPV2, LP or its designee or
successor or assigns; and
 Beijing Youfeng Biological Technology, Ltd. ("BYBT" or its designee or successor or
assigns.
(collectively, “the Qualified Bidders”). The Trustee has not received qualifying bids from any
parties other than the Qualified Bidders. At the Auction, BYBT's $1,700,000 bid shall be
considered the highest and best bid, and the Trustee will solicit the next overbid from the
Stalking Horse Bidder in the amount of $1,750,000.
Case 22-13166-PDR Doc 115 Filed 01/20/23 Page 1 of 4
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As of the filing of this Notice, the Objecting Parties1 have not tendered a $150,000
deposit, have not executed an equity purchase agreement, and have therefore not qualified to bid
pursuant to the Order. Pursuant to the Order Approving Objecting Parties’ Purchase Offer and
Related Relief (ECF No. 106), the failure of the Objecting Parties to timely tender the Deposit
constitutes an “Event of Default”, and the effect of an Event of Default shall (i) constitute an
express waiver of the Objecting Parties’ Objection, and any and all other objections by the
Objecting Parties, to the Equity Findings, and their express consent for the Court to enter the
Equity Findings, and (ii) mandate that the Objecting Parties will execute all documents
reasonably necessary to effectuate the conveyance of all equity in the Companies that the Trustee
or Objecting Parties claim to own to the Person identified by the Trustee as the successful bidder
that is approved by the Bankruptcy Court.2
By separate correspondence to the Objecting Parties, the Trustee will advise Objecting
Parties of their continued duty to preserve the books, records, and assets of both of Debtor's
subsidiaries subject to the pending conveyance through any closing of a sale.