Casa Systems, Inc filed a motion in the US Bankruptcy Court for the sale of certain assets on April 3, 2024. The debtor seeks the Court?s approval for the sale of its certain assets to Lumine Group US Holdco Inc., for a consideration for the purchase of the transferred assets shall be $15 million, plus the assumption of the assumed liabilities, including determined cure costs. The debtor?s assets include Cloud/RAN Assets, other inventories, the seller permits, assigned contracts, Business records, Equipment, Transferred Intellectual Property, certain refunds, credits, prepaid expenses, and deposits, accounts receivable, and certain other assets, interests or rights.

The debtor shall make good faith deposit in the amount of $0.80 million. The stalking horse bidder would be entitled to a break-up fee and expense reimbursement of $0.38 million in case of termination of the asset purchase agreement.