Knotel cancels auction, names Digiatech winning bidder for all assets

By Sarah Lizee

Olympia, Wash., March 15 – Knotel, Inc. canceled an auction for substantially all of its assets and named Digiatech, an affiliate of Newmark Group, Inc., the successful bidder, according to a notice filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Digiatech is the company’s debtor-in-possession lender and served as stalking horse bidder for the assets, as previously reported.

The company did not receive any other qualified bids for the assets, according to Friday’s notice.

The stalking horse agreement includes a purchase price of $70 million in the form of a credit bid, subject to adjustments, $6.81 million in cash, and the assumption of certain liabilities.

A sale hearing will be held on March 18.

New York-based Knotel operates a flexible workspace platform that matches, tailors and manages space for customers. The company filed bankruptcy on Jan. 31 under Chapter 11 case number 21-10146.

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