NaturalShrimp Inc: going-concern / distress — NaturalShrimp receiver seeks court approval to sell all assets via $35.7M credit bid to lenders

NaturalShrimp Inc

Receiver filed Sale Motion to sell substantially all assets to Streeterville/Bucktown Capital or higher bidders.
Purchase price is roughly $35,703,789.87 credit bid plus $100,000 cash; no proceeds expected for shareholders.
Sale includes assets of NaturalShrimp USA, NaturalShrimp Global, and Natural Aquatic Systems.
Receiver appointed in September 2024 after default on loan agreements; receivership covers all Receivership Entities.

item 1.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

NaturalShrimp Inc entered receivership in District Court of Salt Lake County, Utah (petition 2024-09-04).

Proceeding: receivership
Court: District Court of Salt Lake County, Utah
Petition: 2024-09-04

Exact text from the filing

On September 4, 2024, Streeterville Capital, LLC, a Utah limited liability company, and Bucktown Capital, LLC, a Utah limited liability company (collectively, “Lenders”), filed a Verified Emergency Motion for Appointment of Receiver (the “Motion”) under Civil Case No. 240907138 (the “Receivership Case”), in the District Court of Salt Lake County, Utah (the “Utah State Court”), against NaturalShrimp, Inc. (“NaturalShrimp”), a Nevada corporation.

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Source: SEC EDGAR

accession 0001493152-25-007034

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