In the United States Bankruptcy Court for the District of Delaware
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Case 21-10457-LSS Doc 237 Filed 05/13/21 Page 1 of 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE Chapter 11 In re: Case No. 21-10457 (LSS) MOBITV, INC., et al., Jointly Administered Debtors.1 Related Docket Nos. 73 and 164 NOTICE OF FILING OF SUCCESSFUL BIDDER ASSET PURCHASE AGREEMENT PLEASE TAKE NOTICE that, on April 7, 2021, the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) entered the Order (A) Approving Bidding Procedures for the Sale of Substantially All Assets of the Debtors; (B) Approving Procedures for the Assumption and Assignment of Executory Contracts and Unexpired Leases; (C) Scheduling the Auction and Sale Hearing; and (D) Granting Related Relief [Docket No. 164] (the “Bidding Procedures Order”).2 PLEASE TAKE FURTHER NOTICE that, pursuant to the Bidding Procedures Order, the Debtors conducted an auction on May 11-12, 2021 for substantially all of the Debtors’ assets (the “Assets”). At the conclusion of the auction, the Debtors, in consultation with their advisors and the Consultation Parties, selected the bid submitted by TiVo Corporation (the “Successful Bidder”) as the Successful Bid. PLEASE TAKE FURTHER NOTICE that, on May 12, 2021, the Debtors filed the Notice of Auction Results [Docket No. 234] with the Bankruptcy Court. PLEASE TAKE FURTHER NOTICE that attached hereto as Exhibit A is the Asset Purchase Agreement dated May 12, 2021 (the “Successful Bidder APA”) between the Debtors and the Successful Bidder. PLEASE TAKE FURTHER NOTICE that a hearing is scheduled for May 21, 2021 at 2:00 p.m. (Eastern Time) at the Bankruptcy Court to consider approval of the sale to the Successful Bidder, free and clear of all liens, claims, interests, and encumbrances except as otherwise provided in the Successful Bidder APA, and the assumption and assignment of certain executory contracts and/or unexpired leases to the Successful Bidder. 1 The Debtors in these chapter 11 cases and the last four digits of each Debtor’s U.S. tax identification number are as follows: MobiTV, Inc. (2422) and MobiTV Service Corporation (8357). The Debtors’ mailing address is 1900 Powell Street, 9th Floor, Emeryville, CA 94608. 2 A capitalized term used but not defined herein shall have the meaning ascribed to it in the Bidding Procedures Order. DOCS_DE:234388.1 57391/003 Case 21-10457-LSS Doc 237 Filed 05/13/21 Page 2 of 2 Dated: May 13, 2021 PACHULSKI STANG ZIEHL & JONES LLP Wilmington, Delaware /s/ Mary F. Caloway Debra I. Grassgreen (admitted pro hac vice) Jason H. Rosell (admitted pro hac vice) Mary F. Caloway (DE Bar No. 3059) 919 North Market Street, 17th Floor P.O. Box 8705 Wilmington, DE 19899 (Courier 19801) Telephone: 302-652-4100 Facsimile: 302-652-4400 E-mail: [email protected] [email protected] [email protected] Attorneys for the Debtors and Debtors in Possession 2 DOCS_DE:234388.1 57391/003 Case 21-10457-LSS Doc 237-1 Filed 05/13/21 Page 1 of 153 EXHIBIT A Successful Bidder APA DOCS_DE:234388.1 57391/003 Case 21-10457-LSS Doc 237-1 Filed 05/13/21 Page 2 of 153 ASSET PURCHASE AGREEMENT BY AND AMONG TIVO CORPORATION AND MOBITV, INC. AND MOBITV SERVICES CORPORATION May 12, 2021 DB2/ 40803689.18 Case 21-10457-LSS Doc 237-1 Filed 05/13/21 Page 3 of 153 TABLE OF CONTENTS Page ARTICLE I PURCHASE AND SALE ....................................................................................... 1 1.1 Purchase and Sale .................................................................................................. 1 1.2 Excluded Assets ..................................................................................................... 4 1.3 Assumed Liabilities ............................................................................................... 5 1.4 Excluded Liabilities ............................................................................................... 6 1.5 Assumption and Assignment of Contracts. ............................................................ 6 1.6 Closing ................................................................................................................... 7 1.7 Purchase Price. ....................................................................................................... 7 1.8 Title Passage; Delivery of Purchased Assets. ........................................................ 8 ARTICLE II REPRESENTATIONS AND WARRANTIES OF SELLER ........................... 8 2.1 Organization, Standing, Power .............................................................................. 9 2.2 Authority; Noncontravention. ................................................................................ 9 2.3 Compliance with Laws ........................................................................................ 10 2.4 Title to Purchased Assets ..................................................................................... 10 2.5 Contracts .............................................................................................................. 10 2.6 Intellectual Property. ............................................................................................ 10 2.7 Litigation .............................................................................................................. 11 2.8 Employees and Employment Matters. ................................................................. 11 2.9 Employee Benefit Matters. .................................................................................. 12 2.10 Real Property ....................................................................................................... 13 2.11 Permits ................................................................................................................. 13 2.12 Financial Statements ............................................................................................ 13 2.13 Brokers’ Fees ....................................................................................................... 13 2.14 No Other Agreements to Purchase ....................................................................... 13 2.15 Taxes .................................................................................................................... 14 2.16 Warranties are Exclusive ..................................................................................... 14 ARTICLE III REPRESENTATIONS AND WARRANTIES OF PURCHASER ............... 15 3.1 Organization, Standing and Power ...................................................................... 15 3.2 Authority; Noncontravention. .............................................................................. 15 3.3 Purchaser Guaranty .............................................................................................. 15 ARTICLE IV COVENANTS .................................................................................................... 16 4.1 Notice of Developments ...................................................................................... 16 4.2 Third Party Notices and Consents........................................................................ 16 4.3 Conduct of Business. ........................................................................................... 18 4.4 Press Releases and Public Announcements ......................................................... 19 4.5 Covenant Not to Assign Purchased Avoidance Actions ...................................... 20 ARTICLE V ADDITIONAL AGREEMENTS ....................................................................... 20 5.1 Employment Covenants and Other Undertakings................................................ 20 5.2 Reasonable Access to Records and Certain Personnel. ....................................... 21 i DB2/ 40803689.18 Case 21-10457-LSS Doc 237-1 Filed 05/13/21 Page 4 of 153 5.3 Bankruptcy Covenants ......................................................................................... 22 ARTICLE VI CONDITIONS AND CLOSING DELIVERIES ............................................ 24 6.1 Conditions to Obligations of Purchaser. .............................................................. 24 6.2 Conditions to Obligations of Sellers. ................................................................... 25 ARTICLE VII TAX MATTERS .............................................................................................. 26 7.1 Transfer Taxes ..................................................................................................... 26 7.2 Real and Personal Property Taxes ....................................................................... 26 7.3 Tax Information ................................................................................................... 27 7.4 Bulk Sales Laws ................................................................................................... 27 ARTICLE VIII TERMINATION ............................................................................................ 27 8.1 Termination .......................................................................................................... 27 8.2 Effect of Termination ........................................................................................... 28 ARTICLE IX GENERAL PROVISIONS ............................................................................... 28 9.1 Survival ................................................................................................................ 28 9.2 Bankruptcy Court Approval ................................................................................