Exhibit 2.1
Execution Version
AMENDMENT TO
ASSET PURCHASE AGREEMENT
This AMENDMENT TO ASSET PURCHASE AGREEMENT (this “Amendment”) is made and entered into as of April 18, 2023, by and between Pfizer Inc., a Delaware corporation (“Buyer”), and Lucira Health, Inc., a Delaware corporation (“Seller”).
BACKGROUND
WHEREAS, on February 22, 2023, Seller filed a voluntary petition for relief commencing a case under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court” and the case arising under such petition, the “Bankruptcy Case”);
WHEREAS, on April 12, 2023, Buyer and Seller entered into that certain Asset Purchase Agreement (the “Agreement”);
WHEREAS, prior to the Sale Hearing, Buyer provided written notice to Seller that the condition set forth in Section 9.6 of the Agreement has been satisfied;
WHEREAS, prior to 10:00 a.m. Eastern Daylight Time on April 13, 2023, Buyer provided written notice to Seller waiving the condition in Section 9.17 of the Agreement;
WHEREAS, following hearings before the Bankruptcy Court and further bidding at the reopened Auction held in open court before the Bankruptcy Court on April 14, 2023, Buyer modified the terms of its bid to purchase the Transferred Assets and to assume the Assumed Liabilities to increase the Consideration by an additional $10,400,000, among other things, all in the manner and subject to the terms and conditions set forth in the Agreement, as amended herein, and in accordance with Sections 105, 363 and 365 of the Bankruptcy Code, subject to Buyer’s right to assign its rights and obligations hereunder to one of more of its Affiliates (such sale and purchase of the Transferred Assets and such assignment and assumption of the Assumed Liabilities, as amended herein, the “Transaction”); and
WHEREAS, Buyer and Seller desire to reflect the terms of Buyer’s modified bid in this Amendment, subject to the approval of the Bankruptcy Court in accordance with Article II of the Agreement.
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants, representations, warranties, and agreements set forth in this Amendment, and intending to be legally bound hereby, the parties hereto agree as follows:
AGREEMENT
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby covenant and agree as follows:
1. | Background. The Background provisions set forth above (including, but not limited to, the defined terms set forth therein) are hereby incorporated by reference in this Amendment and made a part hereof as if set forth in their entirety in this Section 1. |
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