Lucira names Pfizer winning bidder again after reopened auction

By Sarah Lizee

Olympia, Wash., April 18 – Lucira Health, Inc. said Pfizer Inc. remains the winning bidder for its assets following a reopened auction held on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The auction was initially held on April 6. At that time, Pfizer was named winning bidder and Pearsanta, Inc., a subsidiary of Aditxt Inc., was named backup bidder.

As previously reported, Pearsanta had filed an objection to Lucira’s designation of Pfizer as the winning bidder following the auction.

Pearsanta had said that even though its bid was higher, the debtor and official committee of unsecured creditors jointly selected the Pfizer bid, citing a perceived superior ability to close.

On April 12, Lucira entered into an asset purchase agreement with Pfizer. The company sought approval of the agreement at a sale hearing that had started on Thursday and was continued to Friday.

The court decided to reopen the auction on Friday, and Pfizer again submitted the winning bid.

Pfizer’s bid is comprised of assumed liabilities, a $5 million cash payment, payment of amounts needed to cure any defaults under assigned contracts and an additional cash payment of $7 million less the total amount of paid cure costs associated with Jabil contracts and Transition contracts, if any.

Lucira is a medical technology company based in Emeryville, Calif. The company filed bankruptcy on Feb. 22 under Chapter 11 case number 23-10242.

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