The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Sequential Brands Group, Inc., Galaxy Brands LLC, The Basketball Marketing Company, Inc., American Sporting Goods Corp and Gaiam Americas, Inc. on November 3, 2021. The debtor has been authorized to sell its substantially all its assets to Gainline Galaxy Holdings LLC for a consideration consisting of (i) $55.5 million plus any additional cash consideration in an amount equal to $1.67 million to be held in escrow pursuant to the purchase agreement which escrowed amount shall be applied in accordance with this order upon release to the debtors, (ii) $227.5million in the form of debt issued by buyer as such amount may be reduced by an amount equal to (A) any additional cash consideration and (B) the estimated royalty adjustment and (iii) 11.3% of Series A Units of Gainline Galaxy Holdings LLC which for purposes of application to claims of the debtors? estate shall be valued at $50,000,000. The debtor did not receive any other competing bids for the purchase of its assets and therefore Gainline Galaxy Holdings LLC was designated as successful bidder. The buyer is represented by Gregory B. Astrachan, Paul V. Shalhoub and Jonathan S. Kubek of Willkie Farr & Gallagher LLP as its legal advisors and the sellers are represented by Joshua Brody, William Sorabella and Jason Zachary Goldstein of Gibson, Dunn & Crutcher LLP.