Implant Sciences filed with the U.S. Bankruptcy Court a notice of (i) cancelled auction and (ii) successful bidder.
The notice states, “Pursuant to the Bidding Procedures Order, the deadline for Qualified Bidders to submit bids was December 8, 2016, the ‘Bid Deadline’, and to the extent that no Qualified Bids (other than the Lead Bid of L-3 Communications) were received by the Bid Deadline, the Auction was to be cancelled. No other Qualified Bids were received by the Bid Deadline, and the Debtors hereby provide notice of cancellation of the Auction. The Debtors will seek entry of an order approving the sale to L-3 Communications Corporation at the sale hearing scheduled for December 16, 2016.”
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