#USA #Dallas #Auction #Montgomery Capital #P3 Pure

Upcoming Auction: P3 Pure LLC's Assets by Montgomery Capital Partners

On December 30, 2024, Montgomery Capital Partners III, LP will conduct a public auction for the assets of P3 Pure LLC, a company based in Florida. This auction is significant as it aims to address and settle the security interest held by Montgomery Capital in regards to P3 Pure.

Understanding the Auction Context

The auction is set to begin at 12:00 PM Central Standard Time, and it will be held via telephone to accommodate participants who can bid remotely. The public sale is an essential step for Montgomery Capital to recover its investment and foreclose on the security interest in P3 Pure LLC's personal property. This operation is initiated under Section 9-610 of the Uniform Commercial Code.

Assets for Sale

The Public Sale includes a comprehensive package of assets categorized as follows:

• - Inventory: The stock available for sale, which may entail various products and materials related to P3 Pure.
• - Accounts Receivable: Outstanding debts owed to P3 Pure which represent potential revenue recoverable by the company.
• - Machinery and Equipment: This includes essential equipment that P3 Pure utilized in its operations.
• - Intellectual Property: Key trademarks will be auctioned, including well-known brands such as "Pretty Frank", "P3 Pure", "Happy Pits", and others.
• - General Intangibles: Additional assets not directly physical but valuable to the company’s operations.

The items listed above are grouped under what Montgomery Capital refers to as the "Public Sale Collateral." Notably, these items will be offered on an "as is" basis, meaning that there are no guarantees or warranties regarding the items sold, relieving the Secured Party from further liabilities post-sale.

Participating in the Auction

Potential bidders interested in placing a bid must first qualify by fulfilling specific criteria. This including:
1. Signing a confidentiality agreement acceptable to the Secured Party.
2. Submitting recent financial statements to prove their capacity to bid on the assets.
3. Completing an Asset Purchase Agreement.
4. Providing a deposit equal to ten percent of the intended bid amount.

Qualified Bidders who successfully meet these requirements will receive the necessary call-in details to attend the auction and may bid competitively on the available assets.

Auction Process

At the auction, each asset under the defined categories may be sold individually or in combinations. The highest bidder(s) will be required to remit payment through a wire transfer once the final bid is accepted. Additionally, Montgomery Capital retains the right to credit bid on any or all assets, thereby potentially matching the highest bid with its own offer.

Finally, it is essential to recognize that the Secured Party retains the authority to reject any bids, thereby maintaining control over the process until satisfactory bids are presented.

For potential participants in this significant auction event, do not hesitate to contact Montgomery Capital for further details. Inquiries regarding the confidentiality agreement or asset purchase framework can be directed to Carlos A. Lacayo at (917) 902-1506 or Isaac J. Brown at (214) 740-4037.

This auction not only represents an opportunity to acquire valuable assets but is also a pivotal moment for Montgomery Capital as it works toward fulfilling its financial obligations and recovering its investments in P3 Pure LLC.