The US Bankruptcy Court gave an order approving the sale of certain assets of Orbital Infractructure Group, Inc. on October 5, 2023. The debtor has been authorized to sell its certain assets to Streeterville Capital, LLC,, the stalking horse bidder for a purchase price of $40 million in cash. The debtor?s assets include gts asset.

The debtor did not receive any other competing bids for the purchase of its assets and therefore Streeterville Capital, LLC emerged as the winning bidder.