The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of AAC Holdings, Inc. on July 23, 2020. To qualify as a qualified bidder, interested parties should submit their bids by September 11, 2020. The initial minimum overbid should be in the amount of $1 million more than the initial purchase price. If the debtor receives any qualified bids then it would hold an auction for its assets on September 21, 2020. At the auction, the subsequent bids would be in increments of $1 million. The stalking horse bidder would be entitled to a break-up fee and expense reimbursement of up to 3% of the purchase price in case of termination of the asset purchase agreement. The sale hearing will be scheduled after September 24, 2020 upon selection of the wining bidder.