Nine Point Energy names lender affiliate winning bidder for assets

By Sarah Lizee

Olympia, Wash., June 15 – Nine Point Energy Holdings, Inc. canceled an auction for its assets previously scheduled for Tuesday and named stalking horse bidder Meadowlark Resources LLC, an affiliate of pre-petition lender AB Private Credit Investors LLC, the winning bidder, according to a notice filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

A sale hearing is scheduled for Thursday.

As previously reported, the purchase price includes a credit bid, on a dollar-for-dollar basis, of at least $250 million, comprised of the full amount of the DIP obligations outstanding as of the closing date, and up to 100% of the pre-petition obligations.

The Denver-based exploration and production company filed bankruptcy on March 15 under Chapter 11 case number 21-10570.

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