Infinity Pharmaceuticals, Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on September 29, 2023. The debtor seeks the Court?s approval for the sale of substantially all its assets to the winning bidder and designate a stalking horse bidder. To qualify as a qualified bidder, interested parties should submit their bids by December 1, 2023, along with good-faith deposit in the amount of 10% of the bid price.

The debtor has scheduled an auction on December 6, 2023. Other than the stalking horse bidder not bidder would be entitled to a break-up fee or expense reimbursement in case of termination of the asset purchase agreement. The sale hearing is scheduled for December 8, 2023.