VPX Sports seeks exclusivity extension as sale process continues

By Sarah Lizee

Olympia, Wash., April 17 – Vital Pharmaceuticals, Inc., which does business as VPX Sports, is seeking another extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the Southern District of Florida.

Specifically, the company asked the court to extend the exclusive plan filing period through Aug. 4 and the exclusive solicitation period through Oct. 6.

“There is no need to terminate the debtors’ exclusive periods. The ongoing sale and marketing process offers parties in interest the ability to submit a bid in the form of a plan of reorganization,” the company said in its motion.

“As such, extending the debtors’ exclusive periods does not prejudice any third party – should a party in interest wish to propose a plan, they can do so within the process already being run by the debtors.”

The competitive bid deadline is noon ET on April 24.

An auction is scheduled for April 27, and a sale hearing is scheduled for May 10.

The Pembroke Pines, Fla.-based maker of Bang energy drinks and other products filed Chapter 11 bankruptcy on Oct. 10, 2022 under case number 22-17842.

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