DALLAS, April 30,
2024 /PRNewswire/ -- Pursuant to Section 9-610
of the Uniform Commercial Code, Montgomery Capital Partners III, LP
(the "Secured Party") will hold a secured party public sale to the
highest and best bidder for cash, with reserve, to be conducted
telephonically by the Secured Party on May
14, 2024 at 12:00 p.m. Central
Standard Time (the "Public Sale").
Qualified Bidders (defined below) may attend the Public
Sale telephonically.
The Secured Party is conducting the Public Sale to foreclose the
security interest held by the Secured Party in and to substantially
all of the personal property assets of P3 Pure, a Florida limited liability company (the
"Borrower"), including, without limitation (i) inventory
("Inventory"), (ii) accounts receivable ("Accounts Receivable"),
(iii) certain machinery and equipment owned by the Borrower
(collectively, the "FF&E"), (iv) the following trademarks owned
by Borrower: (1) "Pretty Frank", (2) "P3 Pure", (3) "P3", (4)
"Happy Pits", (5) "Mood Mist", (6) "Tough Teeth", (7) "Primal Pit
Paste", and (8) "Pit Pump", together
with all other conveyable intellectual property (collectively, the
"Intellectual Property"), and (v) other general intangibles owned
by Borrower
("Intangibles"). The Inventory, Accounts Receivable, FF&E,
Intellectual Property, and Intangibles are collectively referred to
as the "Public Sale Collateral".
At the Public Sale, all of Borrower's right, title and interest
in and to the Public Sale Collateral will be sold "as is" and
"where is" and the Secured Party shall make no representation or
warranty, either express or implied, relating to title, use, quiet
enjoyment, possession, merchantability or fitness for a particular
purpose, completeness, condition or the like, all of which are
hereby disclaimed, in the sale or disposition of the Public Sale
Collateral. In addition, the Public Sale Collateral is being sold
(i) free and clear of Secured Party's
liens and any subordinate security interests, and (ii) without
recourse to Secured Party, its attorneys and
representatives. The Public Sale of the Public Sale
Collateral, if made, shall be to the highest and best bidder.
In order to participate in the bidding process, each person or
entity (a "Potential Bidder") must deliver to the undersigned (i)
an executed confidentiality agreement in form and substance
acceptable to Secured Party, unless waived by Secured Party, (ii)
current financial statements of the Potential Bidder
or other evidence acceptable to Secured Party that
will show the financial ability of the Potential Bidder to purchase
the Public Sale
Collateral, (iii) a completed and executed Asset Purchase Agreement
in the form provided by Secured Party, and (iv) a
deposit in an amount equal to ten percent of the bid amount which
will be held in escrow by Secured Party. A Potential Bidder that
complies with the foregoing requirements shall be deemed a
"Qualified Bidder". Those Qualified Bidders participating at the
Public Sale shall be provided with the telephone number and
passcode to attend the Public Sale and shall be given the
opportunity to bid on a competitive basis.
At the Public Sale, each of the Inventory, Accounts Receivable,
FF&E, the Intellectual Property, and the Trade Fixtures may be
offered for sale in separate lots or in combination lots and the
Public Sale Collateral will be offered as a single lot. At the
conclusion of the Public Sale, the successful bidder(s) must pay
the final bid amount in full by a wire transfer of funds to the
Secured Party. The Secured Party reserves the right to credit bid
on any or all of the Public Sale Collateral at the Public Sale. The
Secured Party reserves the right to reject all bids, adjourn or
cancel the Public Sale.
For further details regarding the Public Sale Collateral,
obtaining the confidentiality agreement and the form asset purchase
agreement, and information regarding the Public Sale, you may
contact Secured Party by contacting either Carlos A. Lacayo by email at
carlos.lacayo@mca-texas.com or by telephone at (917) 902-1506 or
Isaac J. Brown by email at
isaac.brown@wickphillips.com or by telephone at (214) 740-4037.
View original
content:https://www.prnewswire.com/news-releases/montgomery-capital-partners-iii-lp-to-auction-the-personal-property-of-p3-pure-llc-via-public-sale-302132366.html
SOURCE Montgomery Capital Advisers, LLC