LOS ANGELES, Sept. 26, 2019 /PRNewswire/ -- Loot Crate, Inc. announced today that the Company has obtained bankruptcy court approval of the sale of substantially all of its assets to Loot Crate Acquisition LLC (LCA). LCA is an affiliate of its lender, Money Chest LLC.
The Company stated, "Today's approval of the sale of Loot Crate to LCA affirms the new investor's belief and confidence in the strength of the Loot Crate brand and operations. We'd like to thank everyone involved in making this transaction a reality. None of this would have been possible without the support of our partners, vendors and employees."
The transaction is expected to close on or around October 1, 2019, subject to the satisfaction or waiver of other customary closing conditions.
Loot Crate, Inc. is being advised by Bryan Cave Leighton Paisner LLP as lead counsel and Portage Point Partners and Theseus Strategy Group LLC as restructuring advisors. Focal Point Partners LLC is serving as investment banker.
Loot Crate Acquisition LLC is being advised by Cooley LLP as its legal advisor.
Court filings and other documents related to the court proceedings are available on a separate website administered by Loot Crate's claims agent, Stretto, at https://cases.stretto.com/lootcrate. Additional information is available by calling Loot Crate's Information Line, toll-free in the U.S. at 1-877-272-4403. For calls originating outside the U.S., please dial 1-949 -229-3562.
SOURCE Loot Crate