{"id":783282,"date":"2023-09-12T06:04:52","date_gmt":"2023-09-12T10:04:52","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\/"},"modified":"2023-09-12T06:04:52","modified_gmt":"2023-09-12T10:04:52","slug":"gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\/","title":{"rendered":"GigaCloud Technology Inc Enters Into Definitive \u201cStalking Horse\u201d Agreement to Purchase\u00a0the Assets of Noble House Home Furnishings"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">WALNUT, Calif., Sept.  12, 2023  (GLOBE NEWSWIRE) &#8212; GigaCloud Technology Inc (Nasdaq: GCT) (\u201cGigaCloud\u201d or the \u201cCompany\u201d), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that it has entered into a definitive agreement (the \u201cAsset Purchase Agreement\u201d) as the stalking horse bidder to acquire substantially all of the assets of Noble House Home Furnishings, LLC and certain of its affiliates (\u201cNoble House\u201d) for $85 million in connection with Noble House\u2019s Chapter 11 bankruptcy proceedings.<\/p>\n<p align=\"justify\">Noble House is a leading distributor, manufacturer and retailer of an extensive selection of indoor and outdoor home furnishings. Noble House sells its portfolio of products through a diverse set of third-party channels, with leading positions at major retailers.<\/p>\n<p align=\"justify\">\u201cWith over 8,000 SKUs and a strong supply chain system, we believe Noble House will add significant depth to our 1P and 3P businesses, supplementing our already diverse range of product offerings,\u201d said Larry Wu, Founder, Chairman, and Chief Executive Officer of GigaCloud. \u201cOn the other hand, we believe GigaCloud\u2019s B2B platform will enhance Noble House\u2019s operational efficiency and expand Noble House\u2019s sales channels. With our healthy balance sheet and cohesive marketplace ecosystem, we are confident that GigaCloud has the resources and management capabilities to stabilize and grow Noble House\u2019s business in the future.\u201d<\/p>\n<p align=\"justify\">Noble House filed for Chapter 11 bankruptcy protection on September 11, 2023 with the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the \u201cBankruptcy Court\u201d). The Asset Purchase Agreement is subject to certain customary closing conditions, including certain orders being entered by the Bankruptcy Court. The Asset Purchase Agreement is also subject to higher and better offers Noble House may receive during the auction process.<\/p>\n<p align=\"justify\">\n        <strong>About GigaCloud Technology Inc<\/strong>\n      <\/p>\n<p align=\"justify\">GigaCloud Technology Inc is a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise. The Company\u2019s B2B ecommerce platform, which it refers to as the \u201cGigaCloud Marketplace,\u201d integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company\u2019s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. The Company offers a truly comprehensive solution that transports products from the manufacturer\u2019s warehouse to the end customer\u2019s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories such as home appliances and fitness equipment. For more information, please visit the Company\u2019s website: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=LxdTWGpmoUZPEmVlIb-wlk8uFyAhjDADbm0c1soG4Dv8wU31WXTOs5ZrthmlulOkKmY-uJIdjK8L8veJB6IeWzRl69V-iArcFaG9b_FOnR-B9uLjKxKOoevfDR_iYNko\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/investors.gigacloudtech.com\/<\/a>.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains \u201cforward-looking statements\u201d. Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company\u2019s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201caim,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201cis\/are likely to,\u201d \u201cpropose,\u201d \u201cpotential,\u201d \u201ccontinue\u201d or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company\u2019s registration statement and other filings with the SEC.<\/p>\n<p align=\"justify\">\n        <strong>For investor and media inquiries, please contact:<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>GigaCloud Technology Inc<\/strong>\n      <\/p>\n<p align=\"justify\">Investor Relations<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=gBVR4WjOK3dqijETbuBlW-Qgkw0-BKlR4A9u8wLUmojzx0tp0zHDcfYIJ1jPQ2vCj6A4WVwRqZj2mT6dVlvwhnYiCGt3oq0AgSOfocLP09w3g6rF1UK32tH5eM2lo8MnO8qWBpmaO5o3oKzNEmi1gA==\" rel=\"nofollow noopener\" target=\"_blank\">investor.relations@gigacloudtech.com<\/a><\/p>\n<p align=\"justify\">\n        <strong>ICR<\/strong>\n      <\/p>\n<p>Ryan Gardella<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Jg_uAYkySHY8mBFaJG-vf2cXfjNn6iiURG_z19kj6jFvfQfZPBuSKhMhRgUHDLiU9PztyWVJLCr7HSgu0mBImDMjd9yCc_x8eQpDTkvWxQk=\" rel=\"nofollow noopener\" target=\"_blank\">GigacloudIR@icrinc.com<\/a>\u00a0<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkyMDUxOSM1ODA5Mzc5IzIyNDk5MDg=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MmRiN2MzYTQtZGEyYy00NTdlLTg1YTYtMmJkYTk1MzdiZGY5LTEyNjE0NjE=\/tiny\/GigaCloud-Technology.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>WALNUT, Calif., Sept. 12, 2023 (GLOBE NEWSWIRE) &#8212; GigaCloud Technology Inc (Nasdaq: GCT) (\u201cGigaCloud\u201d or the \u201cCompany\u201d), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that it has entered into a definitive agreement (the \u201cAsset Purchase Agreement\u201d) as the stalking horse bidder to acquire substantially all of the assets of Noble House Home Furnishings, LLC and certain of its affiliates (\u201cNoble House\u201d) for $85 million in connection with Noble House\u2019s Chapter 11 bankruptcy proceedings. Noble House is a leading distributor, manufacturer and retailer of an extensive selection of indoor and outdoor home furnishings. Noble House sells its portfolio of products through a diverse set of third-party channels, with leading positions at major retailers. \u201cWith &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GigaCloud Technology Inc Enters Into Definitive \u201cStalking Horse\u201d Agreement to Purchase\u00a0the Assets of Noble House Home Furnishings&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-783282","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GigaCloud Technology Inc Enters Into Definitive \u201cStalking Horse\u201d Agreement to Purchase\u00a0the Assets of Noble House Home Furnishings - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GigaCloud Technology Inc Enters Into Definitive \u201cStalking Horse\u201d Agreement to Purchase\u00a0the Assets of Noble House Home Furnishings - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"WALNUT, Calif., Sept. 12, 2023 (GLOBE NEWSWIRE) &#8212; GigaCloud Technology Inc (Nasdaq: GCT) (\u201cGigaCloud\u201d or the \u201cCompany\u201d), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that it has entered into a definitive agreement (the \u201cAsset Purchase Agreement\u201d) as the stalking horse bidder to acquire substantially all of the assets of Noble House Home Furnishings, LLC and certain of its affiliates (\u201cNoble House\u201d) for $85 million in connection with Noble House\u2019s Chapter 11 bankruptcy proceedings. Noble House is a leading distributor, manufacturer and retailer of an extensive selection of indoor and outdoor home furnishings. Noble House sells its portfolio of products through a diverse set of third-party channels, with leading positions at major retailers. \u201cWith &hellip; Continue reading &quot;GigaCloud Technology Inc Enters Into Definitive \u201cStalking Horse\u201d Agreement to Purchase\u00a0the Assets of Noble House Home Furnishings&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-12T10:04:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkyMDUxOSM1ODA5Mzc5IzIyNDk5MDg=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"GigaCloud Technology Inc Enters Into Definitive \u201cStalking Horse\u201d Agreement to Purchase\u00a0the Assets of Noble House Home Furnishings\",\"datePublished\":\"2023-09-12T10:04:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\\\/\"},\"wordCount\":656,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODkyMDUxOSM1ODA5Mzc5IzIyNDk5MDg=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gigacloud-technology-inc-enters-into-definitive-stalking-horse-agreement-to-purchase-the-assets-of-noble-house-home-furnishings\\\/\",\"name\":\"GigaCloud Technology Inc Enters Into Definitive \u201cStalking Horse\u201d Agreement to Purchase\u00a0the Assets of Noble House Home Furnishings - 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Noble House is a leading distributor, manufacturer and retailer of an extensive selection of indoor and outdoor home furnishings. 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