Harpeth Capital Serves as Financial Advisor to Dippin’ Dots, Inc.

Harpeth Capital is pleased to announce that it served as financial advisor to Dippin’ Dots, Inc., creator of the original “beaded ice cream,” in connection with the sale of the Company to an investor group.

In November 2011, Dippin’ Dots filed for Chapter 11 bankruptcy protection, largely a result of operational and financial challenges stemming from the economic downtown. Harpeth Capital was approved by the bankruptcy court in December 2011 to serve as financial advisor to Dippin’ Dots as the Company attempted to identify either new sources of capital or a potential acquiror in a Section 363 sale. Through this process, an Oklahoma-based investor group (Dippin’ Dots, LLC) was identified that sought to partner with existing ownership in a transaction that would allow for maximum proceeds to the bankruptcy estate (i.e., primarily existing lenders) while also settling other organizational dynamics that could otherwise prolong a potential settlement. On May 2, 2012, a motion on the proposed acquisition was approved by the U.S. Bankruptcy Court. The transaction closed on May 18, 2012.

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