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GreenHunter Resources APA Amended

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GreenHunter Resources filed with the U.S. Bankruptcy Court an amended stalking horse asset purchase agreement related to its motion to sell property free and clear of liens and approving sale and bidding procedures and bid protections in connection with the sale of assets.

The notice states, “In the Amended APA, the Debtor and Stalking Horse Bidder have reduced the Acquisition Consideration from $17,918,719 to $17,525,409 to reflect a projected decrease in the Debtors’ borrowing under the Final Order Granting the Debtors’ Emergency Motion for Entry of Interim and Final Orders (I) Authorizing the Debtors to Obtain Post-Petition Financing and to Use Cash Collateral, (II) Granting Adequate Protection to Pre-Petition Lender, and (III) Granting Related Relief [Docket No. 98] (the ‘Final DIP Financing Order’)….For purposes of determining whether a competing bid is a Qualified Bid under the terms of the Bid Procedures Order, the Acquisition Consideration will be deemed to be $17,525,409.”

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