GTAT to auction ASF's, 50% of auctioned ASFs go to Apple. GTAT will retain some ASFs for future sale, any ASFs not sold will be abandoned at the Mesa facility and transferred to Apple.
Apple will have to scrap the abandoned furnaces, and 50% of the scrap value goes to GTAT.
439 claim is discharged.
Motion on the docket + motion to expedite the hearing also on the docket.
This "Mesa settlement" is pretty good in light of the fact that GTAT can not realize any value for its furnaces. This is an amazing opportunity for new sapphire players to enter the market. I suspect the furnaces (on average) to fetch below 100k each in auction.
Why must Longs and Shorts hate each other? Can't we all just get aLONG?
