Armstrong Flooring, Inc. and certain of its affiliates filed a motion in the US Bankruptcy Court for the sale of its certain or all of the assets on May 13, 2022. To qualify as a qualified bidder, interested parties should submit their bids by June 14, 2022, along with good-faith deposit in the amount of 7.5% of the bid price. The initial minimum overbid should be in an amount equal to or greater than the sum of the amount of the respective Starting Bid plus the amount of any Bid Protections granted to such Starting Bid plus $1 million.

The debtor has scheduled an auction on June 17, 2022. 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 not more than 3% of purchase price in case of termination of the asset purchase agreement.

The sale hearing is scheduled for June 20, 2022.