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Electric-vehicle startup Mullen Automotive Inc’s shares climbed after the company said it gained court approval to buy an Indiana manufacturing plant and other assets from now-defunct Electric Last Mile Solutions Inc. for $92 million, WSJ Pro Bankruptcy reported. Mullen’s shares, down about 93% so far this year, rose 64% in Wednesday trading to 36 cents. Electric Last Mile put its assets up for sale after shutting its business and filing a bankruptcy liquidation case in June. The $92 million deal price includes Electric Last Mile Solutions’ manufacturing plant in Mishawaka, Ind., and its inventory and intellectual property. Mullen is paying $55 million in cash and assuming roughly $37 million in contractual liabilities, court records and securities filings show. Electric Last Mile listed debt obligations of between $50 million and $100 million in its chapter 7 petition, although that didn’t account for the cost of winding down the company’s business and administering claims against the bankruptcy estate. Mullen said that it expects to pay all cash under the deal, which Chief Executive David Michery said would shorten the company’s path to production.

Bankrupt cryptocurrency lender Celsius Network Ltd. has set dates for the auction of its assets, Bloomberg News reported. Celsius will have a final bid deadline of Oct. 17 at 4 p.m., with an auction if necessary on Oct. 20 at 10 a.m., according to a filing with the U.S. Bankruptcy Court for the Southern District of New York dated Monday. A sale hearing will be held on Nov. 1 at 11 a.m. before Chief U.S. Bankruptcy Judge Martin Glenn via Zoom, the filing said, adding that a large number of participants is expected. Celsius has been one of the most high-profile casualties of this year’s crypto-market meltdown that claimed the likes of the TerraUSD stablecoin, hedge fund Three Arrows Capital and lender Voyager Digital Ltd. Founder Alex Mashinsky recently resigned the chief executive officer role, ceding it to Chief Financial Officer Chris Ferraro, a JPMorgan Chase & Co. alum. Sam Bankman-Fried, the crypto billionaire who has been bailing out distressed industry players in recent months, is considering bidding for Celsius assets, Bloomberg News reported last week, citing a person familiar with his deal-making.