On July 8, 2015, F-Squared Investments announced it had entered into an asset purchase agreement with Broadmeadow Capital, LLC, a wholly owned subsidiary of Cedar Capital, LLC.
The asset purchase agreement includes the sale of intellectual property, investment strategies and investment contracts to Broadmeadow Capital, LLC (“Broadmeadow”).
F-Squared Investments (“F-Squared”) has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in order to expedite the sale. The purchase agreement contemplates a court-supervised auction process, which is designed to achieve the highest offer for the F-Squared assets. The purchase agreement sets a minimum acceptable bid for the assets.
Broadmeadow will continue employment of certain F-Squared employees to assist with investment, research and client relationships.
To read the press release: please click here.