Akorn Holding Company LLC filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on April 20, 2023. The debtor seeks the Court's approval for the sale of substantially all its assets to successful bidder. To qualify as a qualified bidder, interested parties should submit their bids by May 4, 2023, along with deposit in the amount of 10% of the bid price.

The initial minimum overbid should be at least $0.1 million per lot or $1 million for whole consideration more than the initial purchase price. The debtor has scheduled an auction on May 10, 2023. At the auction, the subsequent bids would be in increments of $0.1 million.

The sale hearing is scheduled for May 19, 2023.