Lumio Pitches Last Minute Bankruptcy Buyout Deal with Zeo Energy

Bankrupt residential solar company Lumio Holdings Inc. has a new deal to sell its assets to Zeo Energy Corp. after White Oak Global Advisors LLC’s proposed $100 million credit bid fell through.

Florida-based public solar company Zeo Energy has proposed to buy Lumio company assets for $4 million, the assumption of certain liabilities, and the transfer of more than 6.2 million shares of Zeo stock worth roughly $9 million to White Oak, Lumio attorney Robert J. Dehney of Morris, Nichols, Arsht & Tunnell LLP told the US Bankruptcy Court for the District of Delaware in a hearing Monday.

The deal ...