Nuvectra Corporation filed a motion in the US Bankruptcy Court for the sale of substantially all of the Assets on December 20, 2019. The debtor seeks the Court’s approval for the sale of substantially all of the Assets to successful bidder. To qualify as a qualified bidder, interested parties should submit their bids by February 24, 2020, along with good-faith deposit in the amount of 10% of the bid price. The initial minimum overbid should be at least $0.10 million more than the initial purchase price. The debtor has scheduled an auction on February 27, 2020. At the auction, the subsequent bids would be in increments of $0.1 million. 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 12, 2020. The sale must closed before March 19, 2020.