- Fast Radius (OTCPK:FSRDQ) said Friday SyBridge Technologies will acquire its assets for ~$15.9M.
- Under SyBridge, Fast Radius (OTCPK:FSRDQ) - which filed for Chapter 11 bankruptcy last month - will build its digital manufacturing and software business and will go to market under the Fast Radius brand.
- The company said the bid maximizes value and minimizes the remaining duration of restructuring.
- The deal is subject to approval by the U.S. Bankruptcy Court for Delaware. A hearing to seek approval is scheduled for December 12.
- The deal is expected to close before the end of 2022.