LSC Communications, Inc. filed a stalking horse agreement in the US Bankruptcy Court for the sale of substantially all its assets on September 15, 2020. As per the agreement dated September 15, 2020, debtor seeks the Court’s approval for the sale of substantially all its assets to ACR III Libra Holdings LLC, the stalking horse bidder, for a purchase price of an initial credit bid of obligations outstanding under the Prepetition Term Loan Facility in the amount of $20.49, an initial credit bid of obligations outstanding under the Prepetition Notes in the amount of $42.95, a cash amount equal to the Final Cash Consideration, and the assumption of the Assumed Liabilities million. Under the terms of the asset purchase agreement, the buyer has made an earnest money deposit of $37 million prior to the execution of the agreement. The buyer would be entitled to a break-up fee of 3.0% of the estimated cash consideration and expense reimbursement of 1.0% of the estimated cash consideration, subject to a maximum reimbursement of $0.75 million in case of termination of the asset purchase agreement.