CircleUp Conducts Article 9 Sale of Rae Wellness

SAN FRANCISCO, Feb. 21, 2024 /PRNewswire/ -- PLEASE TAKE NOTICE that, pursuant to Section 9-610 of the Delaware Uniform Commercial Code (the "Code"), CircleUp Credit Advisors LLC and CircleUp Credit Fund SPV I LLC or their respective designee (collectively, "Secured Party") will offer, at a public sale (the "Auction") all accounts receivable, documents, chattel paper (whether tangible or electronic), deposit accounts, letter-of-credit rights (whether or not the letter of credit is evidenced by a writing), books and records, commercial tort claims, securities and all other investment property, supporting obligations, any other contract rights or rights to the payment of money, all money, cash and cash equivalents, insurance claims and proceeds and all general intangibles (including all payment intangibles and intellectual property) (the "Assets") of Rae Wellness PBC and Rae Wellness LLC (collectively, the "Debtor"). The Debtor is a creator of vegan wellness supplements targeting areas such as stress, digestion, hydration, hormones, skin and overall well-being. For additional information, please refer to raewellness.co.

The Auction will take place on February 29, 2024, at 1:00 PM Eastern time via video conference on Zoom. Secured Party shall make an opening credit bid of $1,750,000 for the Assets. The minimum bid that shall be considered from qualified bidders (as defined in the bidding procedures referred to below), other than Secured Party, must be at least $1,755,000. All bids shall be paid in cash in immediately available funds, certified check or cashier's check, payable to the order of Secured Party at the closing of the sale. The sale of the Assets shall close by 1:00 PM Eastern time on March 1, 2024 or such other date as Secured Party and the buyer shall agree. Only qualified bidders (as defined in the bidding procedures referred to below), who have remitted to the escrow agent identified in such bidding procedures a minimum deposit of $877,500 by wire transfer of immediately available funds, shall be permitted to bid at the auction.

Secured Party reserves the right to bid at the Auction, including credit bidding and cash bidding in such amounts and components as Secured Party shall determine, in Secured Party's discretion.

Secured Party reserves the right, by announcement made at the Auction, to continue the Auction to such time and place as Secured Party may deem fit, or to cancel the Auction. The terms of sale set forth in this Notice may be subject to additional or amended terms to be announced at the Auction.

THE ASSETS WILL BE SOLD, FREE OF SECURED PARTY'S SECURITY INTEREST AND SUBORDINATE SECURITY INTERESTS, "AS IS" AND "WHERE IS" AND WITHOUT ANY IMPLIED OR EXPRESSED REPRESENTATION, WARRANTY OR COVENANT

Persons desiring other information may contact Secured Party's counsel, Scott Giordano, Esq., by email at [email protected], during normal business hours. Persons planning to attend the Auction as a qualified bidder must contact Secured Party's counsel by February 26, 2024 to obtain the Zoom Meeting ID, Passcode and bidding procedures.

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SOURCE CircleUp Credit Advisors, LLC