UPSIDE Foods submits $50m bid for Believer Meats’ US assets
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Other bidders have until July 20 to submit competing bids for the Believer Meats cultivated meat facility in North Carolina.
Image credit: Believer Meats UPSIDE Foods has submitted a $50 million stalking horse bid for the US assets of distressed cultivated meat firm Believer Meats, according to court documents* filed in North Carolina. Other bidders have until July 20 to submit higher or better offers. In the event qualifying bids come in, an auction will take place on July 28, with a sale hearing on July 30. Any competing bid must exceed $52.25 million (covering the $50 million purchase price plus breakup fees and expenses). One of the best-funded players in the space, having raised almost $400 million from backers
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