The court approved Invitae's sale bidding procedures, authorizing the debtors to solicit bids for all, substantially all, or any portion of their assets and to designate one or more stalking horse bidders by March 29, 2024 at 4:00 p.m. ET, subject to required-holder consent and committee consultation. The order also permits stalking horse bid protections, but only after a separate notice process and order, with breakup fees and expense reimbursements capped at 3% of the proposed purchase price for non-credit-bid stalking horses Bidding Procedures Order.

The sale calendar is now live: qualified bids are due April 10 at 4:00 p.m. ET, any auction is set for April 17 at 10:00 a.m. ET at Kirkland & Ellis in New York, sale objections are due April 29 at 4:00 p.m. ET, and the sale hearing is scheduled for May 6 at 10:00 a.m. ET. For creditors and prospective buyers, this order converts the case from first-day stabilization into a defined 363 sale track, with contract assumption and cure objections also tied to the April 29 deadline.