Grander Acquisition LLC entered into a stalking horse asset purchase agreement to acquire Substantially all of the assets of PolarityTE, Inc. for $6.5 million.

Grander Acquisition LLC entered into a stalking horse asset purchase agreement to acquire Substantially all of the assets of PolarityTE, Inc. (NasdaqCM:PTE) for $6.5 million on June 6, 2023. Upon termination of the transaction in certain circumstances, PolarityTE will pay a break-up fee to Grander Acquisition equal to $500,000, plus reimbursement of actual out-of-pocket expenses. Transaction is subject to certain closing conditions including bankruptcy court approval. As of July 26, 2023, the Debtors and Grander Acquisition entered into an amendment of the Asset Purchase Agreement. The transaction is expected to close on or before August 15, 2023.
David Marx of Dorsey & Whitney LLP and Brian M. Rothschild of Parsons Behle & Latimer acted as legal advisors to PolarityTE, Inc. John F. Haley of Nelson Mullins Riley & Scarborough LLP acted as legal advisor to Grander Acquisition LLC.