#United States #San Antonio #GemCap Solutions #Solstice Marketing #Public Sale

GemCap Solutions to Auction Inventory of Solstice Marketing Concepts

GemCap Solutions, LLC, acting on behalf of its secured party GemCap Holdings, LLC, has announced plans for a public auction to sell certain assets of Solstice Marketing Concepts LLC. The auction is scheduled to take place on March 3, 2025, at 11:00 AM Central Standard Time and will be conducted telephonically to accommodate potential bidders from various locations.

The purpose of this auction is to foreclose on a security interest held by GemCap Solutions in a portion of the inventory of Solstice Marketing Concepts. This process, as defined under Section 9-610 of the Uniform Commercial Code, allows the secured party to recoup losses through public sale. It is important to note that this auction pertains only to a specific piece of the inventory designated as the Public Sale Collateral. The remainder of the borrower's assets remain under the lien and security interest of GemCap Solutions.

Participation and Requirements

Potential bidders interested in participating in this auction need to meet several requirements to be classified as Qualified Bidders. Specifically, they must:
1. Sign a confidentiality agreement that complies with the secured party's standards.
2. Provide current financial statements or acceptable evidence demonstrating their financial capacity to purchase the collateral.
3. Submit a completed Asset Purchase Agreement as specified by GemCap Solutions.
4. Make a deposit equal to 10% of their bid amount, which will be held in escrow.

Qualified Bidders will receive the necessary details—including the telephone number and access passcode needed to participate in the auction. During the sale, the inventory may be offered as separate lots or bundled into a single offering bracket. Successful bidders will be required to pay the total bid amount via wire transfer immediately upon conclusion.

Details and Contact Information

For more information on the items available in the auction and to receive the required documents, interested parties are encouraged to contact:

• - David Ellis at [email protected] or call (310) 494-1437,
• - Michael Berens, Esq. at [email protected] or call (530) 304-6922.

The process is expected to be competitive, and GemCap Solutions reserves the right to refuse any bids, cancel or adjourn the auction if necessary. All assets will be sold on an 'as-is' and 'where-is' basis, with no warranties offered by the secured party regarding the items’ condition or usability.

This public auction provides a unique opportunity to acquire assets from Solstice Marketing Concepts in a transparent manner, ensuring compliance with commercial legal standards. Interested bidders should prepare adequately to meet the prerequisites outlined to partake in this event.