Notice is hereby given that Sandor Jacobson, not individually but solely in his capacity as assignee (“Assignee”) under an assignment for the benefit of creditors made pursuant to Illinois law on April 10, 2025 (“ABC”) by Starved Rock Wood Products LLC, an Illinois limited liability company, intends to sell substantially all of the right, title and interest of Assignee, pursuant to the ABC, in and to all real, tangible, and intangible assets, properties, and rights in the assets of the Assignee resulting from the ABC (the “Sale Assets”), at a public auction (the “Auction”) commencing at 11:00 a.m. Central Time on June 23, 2025 (the “Auction Date”), at the offices of Adelman & Gettleman, Ltd., 53 W. Jackson Blvd., Suite 1050, Chicago, IL 60604.
On June 6, 2025, Assignee entered into an Asset Purchase Agreement (the “APA”) with an unaffiliated third-party purchaser (the “Stalking Horse”). In accordance with the APA, other prospective bidders are invited to submit alternative offers for the Sale Assets (each an “Alternative Offer”). To be a qualified Alternative Offer, among other requirements, an Alternative Offer must: (a) be received by Assignee at or before 1:00 p.m. Central Time on June 20, 2025; (b) be in the form and substance substantially similar to the APA; (c) propose a purchase price not less than $3,500,000 (the “Alternative Offer Purchase Price”); (d) be accompanied by an earnest money deposit not less than 10% of the Alternative Offer Purchase Price; and (e) be accompanied by evidence reasonably acceptable to Assignee demonstrating the proposed bidder’s ability to close the proposed transaction. The Auction may be adjourned from time to time at Assignee’s discretion, and will utilize such methodology, terms, and conditions as Assignee may determine. In the event no qualifying Alternative Offers, other than that of the Stalking Horse, are timely received, the Auction will be deemed canceled.
To receive a copy of the APA, further Auction terms, and information about the Sale Assets, contact Henry Merens, Esq. or Adam P. Silverman, Esq. of Adelman & Gettleman, Ltd., counsel to the Assignee, at (312) 435-1050, or [email protected] and [email protected] .
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