GT Advanced Technologies Inc fka GTAT

[MattySR]

Looks like GTAT sold GT SSG (or substantially most of SSG, the wording of the most recent doc reads that not all of SSG is being sold, but specifically any operations that require the Santa Rosa lease)

GTAT Filed a notice of assumption for that lease a while back, in which the committee objected to it, now GTAT says the lease will be picked up by the buyer, Thermal Technology LLC.

Filing of that sale motion will be "soon" so we will have more details then.

https://www.kccllc.net/gtat/document/1411916150610000000000009

"Debtor GT Sapphire Systems Group LLC (“GT SSG”) has entered into an asset purchase agreement (the “Asset Purchase Agreement”) for the sale (the “Sale”) of certain assets of GT SSG to Thermal Technology, LLC (“Buyer”) and will file a motion (the “Sale Motion”) seeking Court approval of that sale shortly. Under the Asset Purchase Agreement, the Santa Rosa Lease would be assumed and assigned to Buyer."

Docs related to this,

GTATs First Notice of Assumption of Contracts and Leases -

https://www.kccllc.net/gtat/document/1411916150507000000000007 ( the second lease is the SSG lease, cure amount 57k)

The Committees objection to the assumption of the SSG lease -

https://www.kccllc.net/gtat/document/1411916150518000000000005

The committee would not object to the sale of SSG (or substantial amount of SSG) or object to the assumption of the lease IMO with these new developments, just based on the wording of their objection.

"Moreover, although the Debtors have requested that Rothschild solicit purchasers for the SSG Assets, the Debtors have provided no indication, and the Committee is not otherwise aware, of a third-party interested in purchasing the SSG Assets and assuming the liabilities associated with the Santa Rosa Lease."

^^^

Well now the committee is well aware that Thermal Technology is interested in SSG and assuming the Santa Clara lease.