secwatch.observer — SEC 8-K summary
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Issuer:     Winc, Inc. (—)
CIK:        0001782627
Form:       8-K
Filed at:   2022-12-12T23:59:59+00:00
Accession:  0000950170-22-026406
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Winc files for Chapter 11, signs $10M stalking horse asset sale agreement with Project Crush
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- Asset purchase agreement with Project Crush Acquisition Corp for $10M cash, subject to Bankruptcy Court approval.
- Interim approval of $5M debtor-in-possession facility from PCAC; $2M available pending final approval.
- Bid deadline Jan 9, 2023; auction Jan 11 if multiple qualifying bids; break-up fee $300K (3% of price).
- Sale will be free and clear of liens under Section 363; equity holders likely receive no value.
- Company operates as debtor-in-possession; seeks to sell substantially all assets through Chapter 11 process.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1782627/000095017022026406/0000950170-22-026406-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1782627/000095017022026406/wbev-20221207.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-026406

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