Katerra chooses Mercer affiliate as stalking horse for Spokane assets

By Sarah Lizee

Olympia, Wash., July 23 – Katerra, Inc. picked Blue Varsity LLC, an affiliate of Mercer International Inc., to serve as stalking horse bidder for its Spokane, Wash., facility and related assets, according to a notice filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

The stalking horse agreement includes a 3% breakup fee and a 1% expense reimbursement.

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

An auction 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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