Orianna Health Systems Bid Procedures, Auction Time Line Filed

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Orianna Health Systems filed with the U.S. Bankruptcy Court a notice of bidding procedures and auction.

The notice states, “The ‘Bid Deadline’ is June 11, 2018 at 5:00 p.m. (prevailing Central Time)…. Pursuant to the Bidding Procedures Order, if one or more Qualified Bids has been submitted for a Competing Transaction in accordance with the Bidding Procedures prior to the Bid Deadline, the Debtors will conduct an Auction commencing on June 19, 2018 at 10:00 a.m. (prevailing Central Time), or such later time as the Debtors shall timely notify the Qualified Bidders, with respect to such Qualified Bids at the offices of its counsel, DLA Piper LLP (US), 1251 Avenue of the Americas, New York, NY 10020 or such other location as may be announced prior to the Auction to the Qualified Bidders.  If Qualified Bids, other than the Stalking Horse Stock Purchase Agreement, are not received by the Debtors as stated in the immediately preceding sentence, the Debtors will not hold the Auction.”

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