Vesta cancels auction, names stalking horse winning bidder for assets

By Sarah Lizee

Olympia, Wash., Jan. 5 – Vesta Holdings, LLC named stalking horse bidder SRA Holdings, LLC the winning bidder for its assets after receiving no other qualified bids by the deadline of 4 p.m. ET on Wednesday, according to a notice filed with the U.S. Bankruptcy Court for the District of Delaware.

The company canceled an auction previously slated for Jan. 12.

SRA is an affiliate of some of the company’s prepetition lenders. The purchase price under the deal is comprised of a $125 million credit bid.

The expense reimbursement under the stalking horse agreement is capped at $1.5 million.

A sale hearing is scheduled for Jan. 18.

The Montgomeryville, Pa.-based wealth advisory, risk management services and insurance brokerage services company filed bankruptcy on Oct. 30 under Chapter 11 case number 22-11019.

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