Stout Advises Suitable Technologies on Section 363 Sale

October 05, 2020

Stout announced today that substantially all assets of its client, Suitable Technologies, Inc. ("Suitable"), have been acquired by Blue Ocean Robotics ApS and Magicheart Investments, LLC, pursuant to Section 363 of the U.S. Bankruptcy Code.

After filing for Chapter 11 bankruptcy in the District of Delaware, Suitable retained Stout as its exclusive investment banker for the purpose of a sale of the company in whole or in parts.

Suitable, headquartered in Palo Alto, CA, is a leading mobile teleconferencing robotics company. The company designs and develops patented “Beam” robots that provide instant eye-to-eye connection, allowing users to move and remotely engage with others in real time.

Stout’s Luis Pillich and Aaron Perez executed the transaction.

Young Conaway Stargatt & Taylor, LLP served as debtor counsel to Suitable.

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