The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Nuvectra Corporation. on January 13, 2020. The Court approved the asset purchase agreement between the debtor and the successful bidder, for the sale of substantially all its assets. To qualify as a qualified bidder, interested parties should submit their bids by February 24, 2020. If the debtor receives any qualified bids then it would hold an auction for its assets on February 27, 2020. The stalking horse bidder would be entitled to a break-up fee of 3% of purchase price and expense reimbursement of $0.25 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for March 6, 2020. The sale must closed before March 19, 2020.