AppHarvest receives court approval to sell Richmond/Morehead assets

By Sarah Lizee

Olympia, Wash., Sept. 7 – AppHarvest, Inc. received court approval to sell its Richmond/Morehead assets to stalking horse bidder Equilibrium, according to documents filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

Equilibrium, the company’s largest secured creditor and debtor-in-possession lender, is set to purchase the assets through a credit bid of prepetition debt, which is equal to about $113.18 million.

The sustainable food company is based in Morehead, Ky. The company filed bankruptcy on July 23 under Chapter 11 case number 23-90745.

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