Internet Software and Services
Company Overview of Earth Class Mail Corp.
As of July 31, 2015, Earth Class Mail Corp. was acquired by Delivered.io, Inc. Earth Class Mail Corp. provides online postal mail management solutions. The company offers virtual mailroom solutions to manage postal mails, such as nationwide address network, receiving item, intra-account transfer, open and scan content, electronic check deposit, shipping, storage, send to bill.com, shred and recycle, in-store pickup, registered agent, unlimited user, envelope image, document scanning, digital mail, and live support. It also provides online logistics services, including postal mail management, mail and parcel forwarding, and fulfillment and logistics management. The company serves individuals,...
9450 SW Gemini Drive
Beaverton, OR 97008
Founded in 2004
Key Executives for Earth Class Mail Corp.
Earth Class Mail Corp. does not have any Key Executives recorded.
Earth Class Mail Corp. Key Developments
Motion for Asset Sale Approved for Earth Class Mail Corp.
Jun 4 15
The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Earth Class Mail Corp. on June 4, 2015. The debtor has been authorized to sell substantially all its assets to Delivered.io, Inc, the stalking horse bidder for a purchase price of for $5 million plus or minus the closing working capital exceeds or is less than $0.50 million in cash. The debtor did not receive any other competing bids for the purchase of its assets and therefore Delivered.io, Inc emerged as the winning bidder.
Bidding Procedure Approved for Earth Class Mail Corp.
Apr 20 15
The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Earth Class Mail Corporation on April 20, 2015. The Court approved the asset purchase agreement between the debtor and Delivered.io, Inc., the stalking horse bidder, for the sale of substantially all its assets for $5 million plus or minus the closing working capital exceeds or is less than $0.50 million. Buyer has submitted a deposit of $0.15 million upon execution of agreement. To qualify as a qualified bidder, interested parties should submit their bids by May 22, 2015. The initial minimum overbid should be in the amount of at least $5.20 million. If the debtor receives any qualified bids then it would hold an auction for its assets on June 2, 2015. At the auction, the subsequent bids would be in increments of $0.05 million. The stalking horse bidder would be entitled to a break-up fee of $0.15 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for June 4, 2015. Transaction is expected to close by May 28, 2015. Fernando Velez of Reicker, Pfau, Pyle & McRoy LLP acted as legal counsel for the buyer.
Motion for Asset Sale Filed by Earth Class Mail Corp.
Mar 20 15
Earth Class Mail Corporation filed a motion in the US Bankruptcy Court seeking approval for sale of substantially all its assets on March 20, 2015. As per the motion, debtor entered into an agreement with Delivered.io, Inc. to sell substantially all its assets for $5 million plus or minus the closing working capital exceeds or is less than $0.50 million, dated February 13, 2015. Buyer has submitted a deposit of $0.15 million upon execution of agreement. Buyer will be entitled to the break-up fee of 3% of the purchase price. Transaction is expected to close by May 28, 2015. Debtor has also submitted proposed bidding procedures for the sale. All the qualified bidders should submit a deposit of $0.15 million in cash. Minimum initial overbid amount is set at $5.20 million, including $5 million of purchase price, plus break-up fee, plus bid increment of $0.05 million. All the subsequent bids should be made in the increment of $0.05 million. Fernando Velez of Reicker, Pfau, Pyle & McRoy LLP acted as legal counsel for the buyer.
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