Newmark to Acquire Assets of Knotel with USD 20m in DIP financing.
MANews-(C)2009-2021
New York-based Newmark Group, Inc. (NASDAQ: NMRK) to acquire the business of New York-based real estate services provider Knotel, Inc. with approximately USD 20m in cash as debtor-in-possession (DIP) financing under a Chapter 11 sales process, the company said.
To facilitate this transaction under Section 363 of the United States Bankruptcy Code, the financing will support Knotel through the bankruptcy process. Newmark owns all of the outstanding first and second-lien secured debt of...
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