Lucira Health, Inc. filed an asset purchase agreement in the US Bankruptcy Court for the sale of substantially all its assets on April 12, 2023. As per the agreement dated April 12, 2023, seeks the Court's approval for the sale of substantially all its assets to Pfizer Inc., the stalking horse bidder, for a consideration of the assumption of Assumed Liabilities; the sum of $2 million cash payment, the payment of Cure Costs in respect of the assigned contracts, and additional cash payment of $7 million less the aggregate amount of paid Cure Costs associated with the Jabil Contracts and any Transition Contracts. Under the terms of the asset purchase agreement, the buyer shall make an earnest money deposit of $0.50 million upon the execution of the agreement.

The proceeds from the sale would be used to pay off the amount owed to the debtor's pre-petition lender. The buyer is represented by Lowell Dashefsky, Ben Fackler and Benjamin Mintz of Arnold & Porter Kaye Scholer LLP as its legal advisor.