Winc, Inc. filed a revised asset purchase agreement in the US Bankruptcy Court for the sale of its certain assets on December 22, 2022. As per the agreement dated December 21, 2022, seeks the Court's approval for the sale of its certain assets to Project Crush Acquisition Corp LLC, stalking horse bidder, for a purchase price of $11 million in cash. The debtors' assets consist of, without limitation, certain cash, inventory, accounts receivable, executory contracts and unexpired leases, intellectual property, permits, licenses, customer lists, books and records, claims and causes of action, and other related personal property.

The buyer would be entitled to a break-up fee of 3% of the purchase price and expense reimbursement of $0.20 million in case of termination of the asset purchase agreement.