Mobility
Rad Power Bikes finds likely buyer a month after bankruptcy filing
U.S. electric bicycle brand Rad Power Bikes has found a new potential buyer about a month after starting bankruptcy proceedings. The company held an asset auction last week and selected a winning bidder and a backup bidder for certain assets, though any deal requires court approval. Court filings show the Jan. 22 auction started at $8 million and the final sale price was set at up to $13.2 million, with Life Electric Vehicle Holdings as the winning bidder.
