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The proposed stalking horse bidder, SG Investment America Inc., has been designated to set the floor price for the sale of ICON’s assets. This step is aimed at maximizing value for the company’s stakeholders and facilitating a smooth transition through the bankruptcy process.

“The decision to designate a stalking horse bidder underscores our commitment to ensuring the long-term viability of our business,” said Jerry Meyer, CEO of ICON Aircraft. “We believe that this proactive approach will help employees, partners, and customers have confidence in our ongoing operations, enabling the company to achieve the best possible outcome.”

ICON Aircraft has gained widespread recognition for its innovative design and engineering in the light sport aircraft industry. Despite facing financial headwinds, the company remains dedicated to delivering safe and innovative aircraft to its customers. ICON continues to build, sell, service, and fly aircraft during this process and is also working closely with the FAA to achieve Production Certification of its Type Certified ICON A5, allowing it to expand sales to regions outside the U.S. that do not recognize the Light Sport Aircraft category.
“We are grateful for the continued support of our owners, partners, and the aviation community as we navigate this challenging period,” added Meyer. “With the assistance of our stalking horse bidder and the expertise of our professional team of attorneys and advisors, we are confident in our ability to deliver a stronger and more resilient company to a successful purchaser following the court-supervised sale process.”

The stalking horse bidder’s offer will serve as the baseline for competing bids during the bankruptcy sale process, which is expected to continue through late May. Interested parties will have the opportunity to submit higher or better bids, with the goal of maximizing value for ICON Aircraft and its stakeholders.
ICON Aircraft will continue to operate in the ordinary course of business during the bankruptcy process, ensuring minimal disruption to its operations and customer service.

For more information about the sale process, interested parties should contact Neil Gupta of SSG Capital Advisors at [email protected].

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Avweb’s article. Plus comments.

https://www.avweb.com/aviation-news/...791B6303967I7I

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Wow, lots of haters out there....

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The internet has made everyone an expert... Lucky us.

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What I don't understand is a comment saying commentators (who have NEVER been wrong on anything) have it as 3 out of 10 ICON survives Ch11. If we have someone who offered a bid, why would they say 3 to 10?

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Wow, lots of haters out there....

Some of those are more than just haters. They are possibly people that may have put an early deposit, hoping for the original price. Now that the plane may be out of some’s price range, they are happy when they hear anything negative about the plane. They simply want Icon to fail. I doubt it will happen.

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I think things are looking better. We are sure not Progressive Aerodyne. They are in a bad place.

funny thing, I want all companies to have their niche to fill. Different price points and finish on Alphonse makes a stronger market.

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Things aren’t so bad at Searey. They have a lot of planes out there. Also there are 3rd party suppliers that make parts for it too. I have a Searey that I’m currently selling, so I know a bit about it.

When the other Icon owner recently had his plane damaged in the big hangar, it got me thinking, who else would make parts for the Icon, if Icon wasn’t around anymore. Especially the carbon fibre and unique rigging with the folding wings.

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That’s great info for SeaRay owners! They say the company may pull out, but for now main doors are closed. Hope they can reorg.