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GREENWOOD VILLAGE, Colo.—A Minnesota broadband provider has agreed to submit an opening cash bid of $2 million for the assets of Open Range Communications.
The bankrupt Colorado high-speed-wireless-network operator selected TotheHome.com as the initial bidder.
According to the Denver Post ( ), Open Range would have to pay a breakup fee of $80,000 and reimburse expenses of up to $170,000 if it accepts a bid from another company.
According to bankruptcy documents, the company lists $114 million in assets and $110 million in debts.
Bids are due Nov. 11 and an auction is scheduled Nov. 14.
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Information from: The Denver Post,
