BID DEADLINE
AUGUST 22ND AT 2PM
REAL PROPERTY: 45,780 +/- Sq.Ft. Commercial Building on 5.09 +/- Acres and located at 119 Metrolina Dr., Shelby, CN 28150
Tax PIN: 28763, Deed Book 1732 Page 2150 of the Cleveland County Registry.
7.59 + - Acre Lot located adjacent to 119 Metrolina Dr.. Shelby, NC 28150 with Primary access being on Partnership Lane, Shelby, NC 28150
Tax PIN: 62527, Deed Book 1771, Page 1957 and Plat Book 36, Page 184 of the Cleveland County Registry.
PERSONAL PROPERTY: All remaining Assets located at 119 Metrolina Dr., Shelby, NC 28150. This includes but is not limited to precious metal inventory, machinery and equipment, Basalt Rock inventory, Basalt Fiber Inventory and office furnishings more adequately described below.
Current Machinery & Equipment Inventory
2020 Custom 8'x32' One of a Kind, Specialized Furnace for Basalt Processing
2018 Precision Quincy DryerOven, 10'W×30'Lx10'H, Dryer-Cust Oven, Serial # 5027
2018 Precision Quincy Dryer Oven, 10'W×30'Lx10'H, Dryer-Cust Oven, Serial # 5028
2018 Daiken Chiller, Model AWV018AJJNKKNOO, Serial # SWTNU1303000016
(8) 2018 Dietz+Schell Sizing Applicator Model Z182077
(2) 2017 Dietz+Schell Winder and Inverter, Model DS374 Winder &Model DS374 Inverter/Control
Serial # 315350.1M.001 & 315350.1M.002
(3) 2013 Dietz+Schell Winder and Inverter, Model DS373/2-1 Winder & Model DS373/2-1 Inverter
Serial #303065.1M.001, 303065.1M.002, &303065.1M.003 (2) 2021 Dietz+Schell Winder, Model DS330
Serial # 326507.1M.001 & 326507.1M.002 (10) 2017 Dietz+Schell Winder, Model DS330L
Serial #315349.1M.006, 315349.2M.004, 315349.2M.004, 315349.2M.001, 315349.2M.003, 315349.1M.002, 315349.1M.003, 315349.1M.001, 315349.2M.002, 315349.1M.004, & 315349.1M.008
2005 Dietz+Schell Winder, Model DS360/2-2, Serial # 36219/48
2019 Dietz+Schell Reverse Winder, Model DS35EE, Serial # 320177.1M.001
(2) 2018 Dietz+-Schell Reverse Winder, Model DS355EE, Serial # 315351.1M.001 & 315351.1M.002 (2) 2013 Dietz+Schell Reverse Winder, Model DS355EE, Serial #302329.M1.001 &302329.M1.002 Double Sided Twist Frame Model 8, 30' Length, Serial # 53-878/821
(2) 2019 Rice Lake 10° Rock Conveyor and Storage Hopper for Furnace (Left Side &Right Side) 2019 Gough Econ Rock Conveying System, Washer, Classifier, 15' Bucket Conveyor, & 30' Elevator,
Serial # 2180609, Located Outside
2019 Allen Bradley Centerline 2100 Intellicenter (8 Section) Serial # 6504113057/000700
(3) 2019 Allen Bradley Centerline 2100 Intellicenter (5 Section) Serial # 6504113057/000100,
6504113057/000200, 6504113057/000600
2019 Allen Bradley Centerline 2100 Intellicenter (4 Section) Serial # 6504113057/000300 (2) Allen Bradley Centerline 2100 Intellicenter (3 Section) Serial # 6504113057/000400 &
6504113057/000500
(2) 2018 CP Metal 30' Metal Cool Water Tank
(2) 2018 Marley Cool Water Tower, Model SPX NC8401NAN2SGF, Serial # 10146703-A1 & 101467303-A2 2020 Shidadzu Tensile Tester, Model AGS-X-10KN, Serial # 133065734402-CS
2020 Global Water Supply 7' Diameter X5' Tal Water Tank
2020 Cullingan GX Series Reverse Osmosis Water System, Serial # R17090833
2018 AtasCopco Air Compressor, Model GA75-125AP, Serial # API628344
2019 Square D Transformer, Model EXN30T3H, Serial # 1030719238
(2) 2019 Square D Transformer, Model EX30THCT, Serial # 1042919245 & 1052717043
(2) 2019 Square D Transformer, Model 220T145HDIT, Serial #OM5500005969 &0M6500005970
(3) 2019 Square D Transformer, Model EE25S3H, Serial # 1052919121, 1061119340, 1061119341
2019 Federal Pacific Transformer, Model 36 B Series M, Serial #T48LH40-30
Crown 5,000LB Capacity LPForklift, Model C51000-50, Serial #9A211896
2021 CAT Skid Steer, Model 242D3,Serial #CAT04242DCHSX01869
(2) 2018 Chicago Blower Pressure Blower, Model H2 Size D/53, Serial # 344306-1 & 344306-2
(2) 2018 Chicago Blower Pressure Blower, Model N4 Size D/53, Serial # 344385-1 & 344385-2
(2) 2018 NYB Pressure Blower, Model ACF/PLR 33PLR Size
(2) 2018 Eclipse Pressure Blower, Model SMJ12.202772_0-191FA21X
(2) 2019 Baldor Water Supply Pump, Model ECP84313T-4, Serial # 1301825CHPOOZA &
1301825CHP002B
(2) 2019 Baldor Water Return Pump, Model ECP82333T-4, Serial # 1301825CHP001A & 1301825CHP001B
(2) 2019 Baldor High Pressure Pump, Model ECP82394T-4, Serial # 1301825CHP003A & 1301825CHP003B
(2) 2017 Dietze+Schell Oil Pump, Model DSOilPump, Serial # 315349.1L.001 &315349.1L.002 2017 Raymond 4,500LB 36 Volt Electric Reach Truck, Model 750-R45TT, Serial # 750-13-AC37414 (2) 2019 CP Metals Mix Tank, 6'Tall ×4' Diameter
(4) 2019 CP Metals Circulating Tank, 4' Tal ×6' Diameter
(4) 2019 CP Metals Premix Tank, 8' Tal ×2' Diameter
2019 CP Metals Water Return Tank, 30'×10'
2017 Agteks Twist Machine, Model Directwist 2D"6, Serial # 8141 2020 Miller Trailblazer 325LP Welder, Serial # 907775001
2020 Zeks Air Dryer, Model Eclipse 500ZPB10MOAA, Serial # WCH1031392 2013 Taylor Power Systems Generator, Model TD800, Serial # 25781
2013 Retsch Rock Crusher, Model BB200, Serial # 1213221021M 2013 Retsch Pellet Press, Model PP25, Serial # 20.750.0006 2013 Retch Grinding Bowl, Model PM100, Serial # 20.540.0001 White Dust Collector System, Serial # 6243
(3) 2017 Coveya Conveyor Belt, Model EB300 Ease belt, Serial # 13291, 13631,& 14940 Dayton Dust Collector System
Roll 8 Pallet Wrapper
20019 Ingersoll Rand Air Compressor, Model IRN30K-CC, Serial # 2175255
1999 The Baker Company Exhaust Fan, Model B60-ATS, Serial # 65916
2013 Thermo Scientific Lab Oven, Model F3042BC-50-60, Serial # 1262090935451
2013 Thermo Scientific Analyzer, Model Niton FXL-970, Serial # 87450
Ohaus Moisture Analyzer, Model MB27
Hotsy Pressure Washer, Model 5735SS, Serial # 11096560-100557
(3) Siemens Tiastar Intellicenter, Style 898DF22944024, 89D22944020, &89DF22944021 Air/Gas Manifolds for Dryer Ovens
(2) Gas Valve Distributor
Fisher Scientific Isotemp Oven
Ohaus Ranger 3000 Scale
AND Electronic Scale
ESA-CU200 External Sensor Amplifier
Yarn Wrap Reel, Model YG086D
Inscale 5,000LB Capacity Scale, Model LP7510A
Hacona Type S-620GB Sealer
Kobalt Two Stage Pump 175 Max PSI 5HP 80 Gallon Air Compressor
(2) StrongHold Metal Cabinets with Misc PPE
StrongHold Metal Cabinet with Bushing Components (New &Used)
Crown PalletJack
Craftsman 1.5HP4 Gallon Air Compressor
Uline H-1563M-Y Flammable Liquid Storage Cabinet with Fuel Containers
Dewalt Shop Vac
Large Assortment of Fittings, Bolts, Oil, Liquidtite, Electrical Supplies, Wire, Panel Box, Etc. (8) Partial Pallet of Furnace Brick
(2) Partial Pallet of Dry Mortar
Partial Pallet of 362 Mortar
Pallet ofCeramic Fiber Blanket
Pallets of Misc Electrical Components
Banding Cart with Accessories
Packing Material
(6) BASF Breox TB120 Drums
(5) Michem Emulsion ME91735-FD Drums
(4)GEOlube 75 W 55000 Drums
Momentive Silquest A-174NT Drum
(2) Katax 6760L Drums
(8) Stantex H 2661 Drums
(2) Momentive Silquest A187 Silane Drums
Reclaimed Platinum:
Precious Metal Inventory Approximately 1,057.55 Troy Ounces
Reclaimed Rhodium Powder: Bushings:
Approximately 138.07 Troy Ounces 800- 90/10
800 - 90/10
800 - 90/10
800 - 90/10
Current Basalt Rock Inventory
210 Bulk Bags of Basalt Rock
Basalt Fiber Inventory
(12) Pallet ofDR-500-17-041-1
(9) Pallet of DR-150-13-5x1-1
(8) Pallet of DR-500-17-5×1-1
(9.5) Pallet of DR-600-19-6.25-I Produced for Chopping (1) Pallet of DR-80-09-041-1
Large Quantity of Sample Chips
Basalt Fiber Inventory
(12) Pallet ofDR-500-17-041-1
(9) Pallet of DR-150-13-5x1-1
(8) Pallet of DR-500-17-5×1-1
(9.5) Pallet of DR-600-19-6.25-I Produced for Chopping (1) Pallet of DR-80-09-041-1
Large Quantity of Sample Chips
This auction process has been specifically designed for essentially all the real and personal property owned by Mafic. Please carefully read the following instructions to becoming a Qualified Bidder, Auction Process, and the Terms of the Auction
1. Qualifying Bidder. Prospective bidders shall submit the Qualified Bidder Bid Sheet by 2 p.m. local time in Charlotte, North Carolina on Tuesday August 22, 2023 (the "Initial Bid Deadline"). Any such Initial Bid must:
(a) Contain a signed a definitive irrevocable offer to purchase the Assets with, at a minimum, the following requirements: (i) provide for a cash purchase price equal to or greater than the sum of (1) the Starting Auction Bid for the Assets of $15,000,000.00; (ii) state that the Assets will be purchase "as is, where is" with no expressed or implied warranties; (iii) not be subject to (1) financing contingency, (2) contingency relating to the completion of unperformed due diligence, or (3) contingency relating to the approval of the bidder's board of directors or other internal approvals or consents. (iv) provide that the bidder shall purchase all of the Assets; (v) provide that the bidder's offer is irrevocable until the closing if such bidder submits the Prevailing Bid (as defined below), (vi) provide that the bidder shall forfeit its Deposit (as defined below) in the event that it submits the Prevailing Bid and fails to close the purchase of the Assets in accordance with such bid; (vii) provide that it will close the purchase of the Assets on or before September 29, 2023; (viii) state that the prospective bidder agrees to be a (Backup Bidder);
(b) Include a cashiers' check in an amount equal to five percent (5%) of the Initial Bid as shown on the Initial Bid Sheet (it being understood that the deposit may also be sent by wire transfer of immediately available funds) (in each case, a ("Deposit"). Deposits will be returned within three business days for Initial Bidders that are not deemed Prevailing Bidder or Back-Up Bidders by the Auctioneers;
(c) To the extent not previously provided to the Receiver, be accompanied by evidence satisfactory to the Receiver in his reasonable discretion, after consulting in good faith with Live Oak Bank, that the Initial Bidder is willing, authorized, capable and qualified financially, legally, and otherwise, of unconditionally performing all obligations contemplated in herein in the event it submits the Prevailing Bid in Auction; and
(d) Be submitted to Iron Horse Auction Company, Inc ("Iron Horse"), PO Box 1267, Rockingham, NC, 28380 (email: [email protected]), so to be received not later than the Initial Bid Deadline.
2. Auction Process. Once Iron Horse timely receives conforming Initial Bids from prospective purchasers as described above (each a "Qualified Bidder"), Iron Horse will then place the five highest Initial Bidders ("Second Round Bidders") into their online auction portal and allow the Second Round Bidders a chance to advance their bids to become the Prevailing Bidder in a timed online auction. Iron Horse will provide each Second Round Bidder with their bidding account credentials by 3 p.m. on Tuesday, August 22, 2023, EST. Online bidding will be available to each Second Round Bidder until the online auction begins closing at 2 p.m. on Thursday, August 24, 2023, EST. The minimum allowable increment in the online auction portal is $50,000.00 (which increment may be increased as circumstances warrant in the judgement of the Receiver). However, the auction portal will accept any amount higher than $50,000.00 in increments of $50,000.00. The online auction portal will have an automatic extension on the closing clock. This means that if a bid is placed by a Second Round Bidder in the last five minutes of the auction, the auction will automatically extend by five minutes. Once a five-minute period has passed and the auction has ended, we will deem the highest Second Round Bidder to be the ("Prevailing Bidder"). The Prevailing Bidder shall have three business days to execute an Asset Purchase Agreement ("APA") and submit an additional five percent (5%) of the Prevailing Bid price.
3. Sale Hearing. Sale Confirmation Hearing will be held Monday, August 28, 2023 at 10 am in Courtroom 6370 in the Mecklenburg County Courthouse 835 East Fourth Street, Charlotte, NC to consider final approval of the sale of the Assets to the Prevailing Bidder or Back-Up Bidder (defined below).
4. Sale Implementation. Following the approval of the Prevailing Bid at the Sale Hearing, the Receiver will be authorized and directed to take all commercially reasonable and necessary steps to complete and implement the transaction contemplated by the Prevailing Bid, including (but not limited to) conveying the Assets to the party submitting the Prevailing Bid by Bill of Sale, Deed, or other appropriate instrument.
5. Back-Up Bidder. The Receiver shall select the second place Second Round Bidder (the "Back-Up Bidder") which will be automatically approved if the Prevailing Bidder fails to close. The Back-Up Bidder shall have already been deemed to have been approved to purchase the Assets in accordance with order entered by the Court approving the Sale without further order of the North Carolina Business Court and shall close as set forth in section (6) below. The Back-Up Bidder's deposit will be retained until the Prevailing Bidder has closed on the transaction. Once the closing occurs, the Auctioneers shall return the Back-Up Bidder's deposit within three business days.
6. Defaulting Bidder. If the Prevailing Bidder for the Assets is unable to close on the sale of the Assets on or before September 29, 2023, then that bidder shall forfeit its deposit. In the event the Prevailing Bidder defaults, then the Assets shall be sold to the Back-Up Bidder whose bid shall remain open until the closing of the Sale of the Assets, provided however, that the second highest bidder shall have an additional five business days (5) from the date of the written notice from the Receiver to close on the sale of the Assets. The Back-Up Bidder's Deposit shall be returned to that bidder upon closing of the sale of the Assets to the Prevailing Bidder.