Notice is hereby given by BENUVIA HOLDINGS, LLC (the “Secured Party”), that pursuant to Section 9-610 of the Uniform Commercial Code, a secured party public sale to the highest and best bidder for cash, with reserve, will be conducted by the Secured Party on Thursday, August 18, 2022 at 11:00 a.m. Eastern Time (the “Public Sale”) at the offices of Cohen Tauber Spievack & Wagner P.C., 420 Lexington Avenue, Suite 2400, New York, NY 10170. The Secured Party is conducting the Public Sale to foreclose the security interest held by the Secured Party in and to (i) substantially all of the tangible and intangible personal property assets, including without limitation, accounts, inventory, equipment, goods, intellectual property, deposit accounts, and general intangibles (collectively, the “Public Sale Assets”) of Benuvia, Inc., f/k/a Next Frontier Pharmaceuticals, Inc., Benuvia Manufacturing Inc., Benuvia Therapeutics LLC, Benuvia Therapeutics IP LLC and Benuvia Manufacturing LLC (collectively, the “Benuvia Entities”), and (ii) the issued and outstanding shares of capital stock of Benuvia Manufacturing Inc., and the membership interests of Benuvia Therapeutics LLC, Benuvia Therapeutics IP LLC and Benuvia Manufacturing LLC (collectively, the “Public Sale Equity” and together with the Public Sale Assets, collectively, the “Public Sale Collateral”). The Secured Party has a first priority perfected lien and security interest in and to the Public Sale Collateral except for certain of the Public Sale Assets which are subject to pre-existing liens. At the Public Sale, all of Benuvia Entities’ right, title and interest in and to the Public Sale Collateral will be sold “as is” and “where is” and the Secured Party shall make no representation or warranty, either express or implied, relating to title, use, quiet enjoyment, possession, merchantability or fitness for a particular purpose, completeness, condition or the like, all of which are hereby disclaimed, in the sale or disposition of the Public Sale Collateral. In addition, the Public Sale Collateral is being sold (i) free and clear of Secured Party’s liens
and any subordinate liens, and (ii) without recourse to Secured Party, its attorneys and representatives. The Public Sale of the Public Sale Collateral, if made, shall be to the highest and best bidder. In order to participate in the bidding process, each person or entity (a “Potential Bidder”) must deliver to the undersigned counsel to Secured Party prior to a bid submission (i) an executed confidentiality agreement in form and substance acceptable to Secured Party, (ii) current financial statements of the Potential Bidder or other evidence acceptable to Secured Party that will show the financial ability of the Potential Bidder to purchase the Public Sale Collateral, and (iii) a deposit in an amount equal to ten percent of the bid amount which will be held in escrow by counsel for Secured Party in its IOLA account. A Potential Bidder that complies with the foregoing requirements shall be deemed a “Qualified Bidder.” Qualified Bidders shall be allowed to attend the Public Sale and shall be given the opportunity to bid on a competitive basis. At the Public Sale, each of the Public Sale Assets and the Public Sale Equity may be sold as separate lots. At the conclusion of the Public Sale, the successful bidder(s) must pay the final bid amount in full by a wire transfer of funds to the Secured Party and execute a secured party bill of sale and assignment. The Secured Party reserves the right to credit bid on any or all of the Public Sale Collateral at the Public Sale. The Secured Party reserves the right to reject all bids, adjourn or cancel the Public Sale.
For further details regarding the Public Sale Collateral, obtaining the confidentiality agreement and information regarding the Public Sale, you may contact Cohen Tauber Spievack & Wagner P.C., 420 Lexington Avenue, Suite 2400, New York, NY 10170 Attn: Robert A. Boghosian, Esq., or by email at [email protected] or by telephone at (212) 381-8726.
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