Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Drop the ball? My calendar says the 13th, not the 18th. Go smoke some weed and relax bud. Report could come out at anytime.
I love how they’re trying to spread it out to promote a dump. Guess what? You had your time to load. Most are averaged in over .05 so you better just smack the ask.
Looks like iHub uses windows 95 still...
Tic toc...
(c) It pertains to the acquisition of the Assets, or some of them, exclusively or to the Recapitalisation;
A strategic buyer isn’t going to want “some” of the assets. The “or” refers to a true liquidation of the assets (splitting up because liquidators only want certain equipment).
We know that not to be the case because in a liquidation scenario the CEO and CTO would still be employed as expressed in the report.
BioAmber Inc.
1) Employee payroll is based on the forecasted head count and actual salaries assuming layoffs of unecessary employees in a liquidation scenario. Only Richard Eno and Jim Millis at 50% of their current salary would be kept in a liquidation scenario which will be reconsidered as the outcome of the offers are still under review.
Damn great catch, after reading these for awhile it all starts to jumble together lol. Says it right there in writing that commons are part of the purchase, we’re golden.
Just type in corn syrup, see for yourself
Safe to say they got the feedstock end of things covered.
https://www.adm.com/products-services/products/keyword
The thing about the offering is it’s supplemental cash for them, they already have over 5b cash on hand. From what I could find it looks like they’re (so far) spending about 2b for acquisitions this year.
All of the acquisitions are/have been paid with cash as well.
Yes agreed, I never made any implication the entire amount would be used for bioamber.
It does say in the offering though that it was to be used for acquisitions, among other things.
Regardless it’s clear large companies are interested and will pay a proper sum to acquire the company if it fits their agenda.
6 more trading days left!
No worries, glad it’s been helpful. Here’s hoping for the best for all involved
Can definitely tell that everyone who’s in is holding and whoever is sidelining is watching hoping to slide in on news.
You know your dd is solid when the best someone can come up with is boilerplate statements from PRs
If the buying company talks before the deal is completed then they forfeit their deposit. Pretty good incentive to keep it tight lipped I’d say.
we should feel honored to have them use all 15 of their freebies on us. Doesn’t really seem to be worth it though, everyone is holding for news.
Of course, because if there were any leaks the winning company would forfeit their deposit to bioamber. Plenty of incentive to keep it tight lipped. It just adds to the suspense
The really suspenseful part is bioamber going to break the trend and announce the buyout during market hours? Or perhaps the company that’s buying it will make the announcement?
Tic Toc..
There’s also that lovely cover page for appendix “C” as well.
“Confidential bid summary” is music to my ears
I’m sure these same tactics were used for AAL a couple years ago too as their prs said the same thing.
All in, that’s my position, and I think I speak for most everyone else here too. Holding until the end be it win or lose.
Pwc is the source here, not some generic news article.
Employee payroll is based on the forecasted head count and actual salaries assuming layoffs of unecessary employees in a liquidation scenario. Only Richard Eno and Jim Millis at 50% of their current salary would be kept in a liquidation scenario which will be reconsidered as the outcome of the offers are still under review.
They’re gone, therefore there’s a buyout, case closed. Waiting for payday.
Ceo and cto would still be employed if this was a liquidation. They resigned, therefore it’s not.
Here we go;
Withdrawal of a Qualified Bid. All Qualified Bids submitted constitute a firm offer and cannot be revoked, unless a written notice of withdrawal of the Qualified Bid is received by PwC before the expiry of the Bid Deadline.
Bid deadline was August 21st.
Attention to detail is key.
Qualified bidders had to submit a 10% deposit as part of the requirements to submit an offer. There isn’t going to be anyone backing out unless they feel like forfeiting that money to bioamber.
Bids were “locked in” on the 21st. Also the BOD wouldn’t of resigned if a deal didn’t exist since the ceo and cto were supposed to be retained as employees until the end of a 13w period. Since everyone resigned (among other things) it’s obvious that a deal has been reached.
It really is honestly. While I’m not reaching for the stars, If 2 multi-billion dollar companies are bidding on this throwing down an extra 10-20m to seal the deal is peanuts to them.
Everyone enjoy your weekend, despite the lack of news this week (which I admittedly did not expect) we know for a fact that PWC stated several times that they didn’t need until the 18th. 7 trade days left until the 18th so by the law of averages the likelihood we receive news increases exponentially with each passing day.
Be mindful that pwc has yet to release news during market hours, and I don’t expect that to change either.
What a long strange trip it’s been, but it’s almost over.
All I see is retail walking it down trying to force their bids to get filled.
Just like my eagles were gonna lock in a “W” very soon.
Reading statements such as these from the latest report and knowing the BOD resigned is all one should need to know honestly.
27. It is planned that the executive team under BioAmber Canada will leave the Montreal offices as soon as possible with a 1 month notice (this will depend on the outcome of the offers still under consideration).
So why did they resign then when they could of got paid for another month? Because we have a buyer.
43. The Monitor is of the view than an Order sealing Confidential Appendix “C” hereto is necessary in the circumstances. This appendix contains information, including the purchase price and key terms of the bids received, the disclosure of which would be harmful to the integrity of the liquidation process.
This verbiage didn’t exist in other monitor reports, they simply said no acceptable offer had been reached before. What’s different now? We have a buyer.
15. Withdrawal of Acceptance. PwC and/or BioAmber may withdraw its Notice of Acceptance at any time before closing of the Contemplated Transaction. In the event of such withdrawal, PwC shall return the Deposit (without accrued interest, as the case may be) promptly to the Retained Bidder, and the Retained Bidder will have no further rights or recourse against BioAmber and/or PwC.
So why would the BOD resign when they had control of the sale? Because they have a buyer.
Guys, we have a buyer. The only things we don’t know is how much and when.
Wasn’t directed at you specifically, but it’s that kind of uncertainty that investors shouldn’t have because they’ve done their DD.
Of course it’s a possibility, but adm pays cash in their transactions. There has been 3 cash buyouts for over $2b this year so far.
Listed right at the top of monitor report 4 for potential strategic buyers. They’re actually #1 on the paper. To me it seems like people would rather throw doubt into the ring instead of research the investment because “it’s a Q stock”.
Seems like a backwards way to make money if you ask me.
A plant with full automation is far from “old”. A plant of this design could be run 24/7 with a staff of under 50 people total.
Exactly, I won’t waste my breathe responding to someone who can’t read a simple report.
Sorry KKR makes zero sense to me. Cargill, ADM, or even Mitsui makes sense.
I know they’re good bids because the board resigned. Says in the latest report the ceo and cto would still be onboard if this was liquidating until liquidation is complete. Only reason for them all to resign is because of s buyout. Common sense people.
When a company has 5b cash on the books I don’t think they’re waiting for the offering. I posted that more to show that ADM makes moves and has been buying companies.
They can pay for $BIOAQ with the money already on their books.
Just an FYI, ADM likes to pay cash for things. Here’s two transactions just this year for over $2 Billion.
https://www.adm.com/news/news-releases/adm-expands-health-wellness-capabilities-with-agreement-to-acquire-probiotics-international-limited
https://www.reuters.com/article/us-adm-m-a-neovia-exclusive/exclusive-adm-in-talks-to-take-over-french-animal-feed-firm-neovia-idUSKBN1JS10Ti
Looks like people couldn’t ignore the facts from yesterday. Nice to see us moving in the right direction but this is nothing compared to the final outcome we will soon have.
Wow, that’s impressive. I’d care to wager that he has a close relationship with the company then. Despite what we went through with enos PR the majority of BIOAQ’s troubles were created by the previous management, not Dick.
Perhaps that PR was his shout out to AMD. I bet The old ceo of bioamber let this slip right through his hands by being greedy on the first round. Infact I hope that’s the case, karma is...
Thanks for connecting that dot, I’m DD’d out for the day for obvious reasons. Any depth to their relationship?
Thanks for that, this is exactly what I assumed but it’s nice to hear confirmation from a local.
So you’d agree there’s no reason for a private flight to leave Chicago to Sarnia and back in the same day?
Perhaps you can share some insight about the airport located in Sarnia?