In December 2018, Hilco Streambank was hired by the senior secured lender to Osterhout Design Group (ODG) to conduct an article 9 foreclosure sale of ODG’s patent portfolio related to AR/VR smart glasses technology. The technology is cutting edge and fundamental to producing top of the line head-worn smart glasses. Working under a compressed timeline, we developed marketing materials and facilitated diligence requests to prepare interested parties for a public sale. Hilco Streambank brought two dozen interested parties to the process, receiving offers from multiple parties. Following a public sale at which there were multiple rounds of bidding, a sale of the assets closed in January 2019. Deal terms were not disclosed.
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