Celsius Network Considering Better Offer from Potential Buyer

03/09/2023 03:28 • Blockchain Buzz • 124 views

On March 9, Chris Koenig, a lawyer of Celsius Network, revealed at a hearing in the Manhattan Bankruptcy Court on Wednesday that although the asset management company NovaWulf Digital Management had made an offer, the company was still open to a better offer, and it and its creditor committee met with a potential buyer two days ago to review the alternatives.

Celsius is still open to other bids, despite NovaWulf’s previous bid

Analysis based on this information:

Chris Koenig, a lawyer for Celsius Network, stated on March 9, during a hearing in the Manhattan Bankruptcy Court, that the company was still open to a better offer from potential buyers. Although the asset management company NovaWulf Digital Management had made an offer, the company was hoping to receive a better deal. The creditor committee also met with a potential buyer two days ago to review other alternatives.

The statement from Celsius Network’s lawyer suggests that the company is not willing to settle for the current offer that was made by NovaWulf Digital Management. It indicates that the company and its creditors are looking for a better deal that will allow them to obtain more value from the sale of its assets.

The development comes after Celsius Network filed for Chapter 11 bankruptcy protection late last month, citing liquidity issues as the reason for its financial troubles. The company has since been trying to offload its assets, including its intellectual property, and business operations, to stay afloat.

The fact that the creditor committee was involved in the meeting with a potential buyer indicates that the company is taking a collaborative approach to finding a solution to its financial problems. The committee is likely to comprise various stakeholders who have a vested interest in the future of the company. Their involvement in the decision-making process suggests that the company is not just focused on short-term gains but is thinking about the long-term health of the business.

In conclusion, it is evident that Celsius Network is still in search of better offers for the sale of its assets. The involvement of the creditor committee also suggests that the company is looking for a solution that benefits all stakeholders. It will be interesting to see the outcome of the meeting with the potential buyer and whether any better offers come forward.

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Celsius Network Considering Better Offer from Potential Buyer

Celsius is still open to other bids, despite NovaWulf’s previous bid

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