Electric Last Mile Solutions, Inc filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on September 9, 2022. The debtor seeks the Court's approval for the sale of substantially all its assets to the winning bidder, pursuant to the asset purchase agreement. To qualify as a qualified bidder, interested parties should submit their bids by October 7, 2022, along with good-faith deposit in the amount of 10% of the bid price.

The debtor has scheduled selection of successful bidder on or before October 10, 2022. The sale hearing is scheduled for October 12, 2022. The proceeds from the sale would be used to pay off the amount owed to the debtor's pre-petition lender.