including a bid deadline of December 5, 2022. The Company is in active discussions with one or more potential partners and continues to explore and evaluate strategic alternatives, including from newly interested parties.
“We are pleased to have received approval of the bid procedures. This allows us to finish marketing our business and our first-of-its-kind Cloud Manufacturing Platform on an expedited timeline while continuing to serve our customers without interruption,” said Lou Rassey, Co-Founder and CEO of Fast Radius. “We are excited to continue existing discussions and initiate new ones with potential strategic investors, partners and acquirers as we move through this process.”
The bid procedures specifically allow for a stalking horse bidder, if any, to be named by November 23 and establish a bid deadline of December 5, 2022. The bid deadline will be followed by an auction on December 7 and a target close on December 12, 2022.
