Katerra bid procedures OK’d, has until July 22 to pick stalking horse

By Sarah Lizee

Olympia, Wash., July 7 – Katerra, Inc. received approval of the bid procedures for its assets, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The company has until July 22 to select a stalking horse bidder for the assets. Any stalking horse agreement would provide for an up to 3% breakup fee and a capped expense reimbursement.

Competing bids are due by 6 p.m. ET on July 29.

An auction, if needed, will be held on Aug. 2, and a sale hearing will be held on Aug. 5.

Katerra is a technology-enabled construction company based in Menlo Park, Calif. The company filed bankruptcy on June 6 under Chapter 11 case number 21-31861.

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