Poolin launches $52 million stalking-horse sale of substantially all assets
Poolin Technology Pte. Ltd. and affiliates Lonestar Dream Inc. and Lonestar Taproot LLC are seeking approval to sell substantially all their assets to Thor CALAP LLC as stalking-horse bidder. Under the proposed transaction, Thor CALAP would pay $15 million for the Pyote site, associated power rights and equipment, plus $37 million for Tarbush power rights and equipment, according to the amended bidding procedures and sale motion.
The requested schedule sets a September 8 bid deadline, September 10 auction and sale hearing by September 16, with closing targeted for November 30. Competing bids must exceed the applicable stalking-horse offer by expense reimbursement of up to $150,000 for Pyote or $250,000 for Tarbush, plus minimum increments of $250,000 and $500,000, respectively. Thor CALAP would also receive a 3% breakup fee if triggered. The sale remains proposed, but it now establishes the recovery-driving process for the estates’ principal assets and a near-term window for bidders or creditors to challenge value, bid protections or transaction structure.