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Look we are all here to voice our opinions. I think we are going to get paid. But I’m also not going to spin something into a positive to fit our agenda. I’m going to play devils advocate until they actually say shares are safe to protect my investment.
Most of the DD checks out that certain people put on here. I am going to challenge it where I see differently. You all can keep blindly chasing the dangled carrot but not me.
Good luck to all of you and hope you are confirming the DD and not just going off of the screen shots.
I have read it 5 times. And questioning myself because I respect the work you and GC do, I reached out to my friend who is a director at the top M&A and restructuring firms in NYC who works with KKR on a weekly basis and he confirmed that the below grade investment talk is about the notes and not investments they are looking to make.
I am still holding but I am going to call out misleading DD. Just like I did about the 5 mm cap on LCY investment while they were taken private is the reason for the 4.3 mm bid. You conveniently left out that they could have spent more with approval from KKR.
Just tell the whole story that is all.
They’ve completed the raise as of 5/22.
All I am stating is that all of the highlights around the below investment grade and change of ownership has nothing to do with acquiring Bioamber, and are basically disclaimers for the notes they are offering.
Thanks for all of your DD on here, but I have to ask, the narrative around the below grade investment and change of ownership.... they are referring to the notes the are selling in the fund raise, not the companies they are looking to acquire from the proceeds...
Not denying the 650 mm euro fund raise, which by the way they say is for investments in Europe, I feel like this may be a bit misleading to make it look like they are looking to acquire companies that are below grade investments.
https://ir.kkr.com/static-files/095b045a-9557-47ce-8432-f1213748548b
“KKR intends to use the net proceeds from the sale of the notes for general corporate purposes, including to fund potential acquisitions and investments in Europe”
https://ir.kkr.com/static-files/96306801-bdcd-4650-a048-e787233f1e8c
Page 104 where they talk about the notes and what happens if change of ownership and it causing a below grade investment.
Just trying to make sure we are aligned.
Furthermore it doesn’t make sense that Mitsui and comerica are content accepting 12% and 16% of what they are owed as proceeds of the visolis transaction. If they are okay with accepting the distributions they know there is more coming.
Would have been nice to have a photo of the trained doctors yesterday like they did the last time they updated us many months ago. A budget Facebook post was too much to ask for from Don Dickerson.
This is exactly what Bioamber did....
“In M&A transactions, tax professionals must also be aware of Sec. 382, which limits the annual use of an acquired company's NOL to the loss corporation value multiplied by the adjusted federal long-term tax-exempt rate. This limitation can be increased or decreased by complex net unrealized built-in gain or loss rules in Sec. 382. Purchasers of corporations whose tax loss carryforwards are likely to be limited by Sec. 382 may wish to structure an acquisition as an asset purchase rather than as a stock purchase or, where applicable, as a deemed asset purchase followed by a deemed liquidation of the corporation under Sec. 338. This strategy has the effect of converting an NOL carryforward into a future tax deduction on a stepped-up basis in assets.”
From McGladrey:
“Companies that are highly leveraged or have significant self-created intangible assets
at the date of an ownership change may have built-in gains that can lead to enhanced NOL utilization. As a result, incurring a change in ownership does not necessarily mean that you are unable to fully offset current taxable income or that a reserve must be booked for financial statement purposes.”
I think Bioamber has quite a few self-created intangible assets.....
75 mm is a drop in the bucket for KKR. Future revenue/NOLs far outweigh the 75 mm of debt.
Thanks for all you’re doing gocong.
This may explain why they were not at the AUA conference in May. How about the study gets published so there is some research and this laughable share price shoots up.
That is the date of the CCAA conclusion in Canada. I’m asking about the Bk court date in Delaware.
Does anyone have any insight into the Delaware court date? Looking to attend if possible.
Well I’m hoping I get paid to start off. But if we merge they would have to issue new shares and there could be a different structure. Would love to keep trading with the potential of the company but a buyout of FMV would be good too. Lots of people talking about dropping the Q on here and THAT is fantasy land.
I am not selling a single share. I’m just asking to see what everyone is hoping for? Some talk on here of the q dropping and continuing to trade, some say LCYB, just mentioning option 1 isn’t an option and if a new offering we could be left for dead. Trying to get some conversation going on a forum. Weird right?
So my understanding is that they cannot drop the Q from BiOaQ. There were have to be a new ticker or new offering of shares should we emerge from BK.
So at this point are we hoping for a buyout?
Old Stock vs. New Stock
Oftentimes during bankruptcy’s reorganization, the company retains its old common stock -- the “Q” stock -- on the secondary market and issues new stock shares under the reorganized business. Each stock will have different ticker symbols, and the new stock issue will not have a “Q.” Investors holding the old common stock still run the risk of losing their money despite a successful reorganization, because new investors will most likely purchase the stock offered by the reorganized company rather than the stock issued prior to the corporation’s bankruptcy.
“Q” Always Stays
The “Q” is never actually removed from the stock in question’s ticker symbol because it differentiates the pre-bankruptcy stock from the post-bankruptcy stock. This letter remains an important part of the stock’s ticker symbol; otherwise, potential investors would not be aware that they are purchasing stock involved in a bankruptcy that might become worthless on the markets once new stock is issued under the reorganized corporation.
Thank you, Monte!! Appreciate your kind follow up
The get added. And then months later they get trained. Dr. said was added and didn’t perform a procedure until he was trained by the nurse. Italy doctor was added, then posted picture of getting trained months later.
I was asking if these new doctors are added and trained to be ready to start injecting penises and vaginas so Celz can make some money.
I don’t understand why this isn’t something we can discuss here. Would anyone that isn’t immediately dismissive like to chime in?
I am stating that it could be a good thing that the pool of doctors eligible to deliver the procedure is not limited to urologists.
Odd that they are going outside urologists so soon though.
Does it say that they are trained? Also did anyone notice one is an ENT/plastic surgeon and the other is a foot doctor??? Does that mean anyone who is a doctor can offer the procedure?
Pre screened q and a with no news. This stock is an embarrassment
Thanks. Appreciate the reply.
The second transaction that is going to pay us...
Do we run the risk of Crane blowing up this whole deal? I know they are lowly individuals who have too much time, but they have their hands on the contracts to look through which I’m afraid could now blow up the whole thing. Anyone have any thoughts?
You would think whoever is behind this would pay them to go away.
Up your bid
Anyone going to the hearing tomorrow?
After a lot of DD and time spent reading the posts from our friends here, I have decided to sell...
My shares are on the ask for $6. Have at them!
I think everyone on this board should email and call Don and Tim and let them know how we feel. You can dodge some here and there, but if all Longs call and email it will be tough to hide from.
It is unacceptable and they should feel the heat.
I thought the dilution was over?
I am confused. I understand PwC has been shady all along and definitely messed up throughout the process. But are you moving towards it isn’t a 2 step transaction, and that PWC better have us paid or we are going to class action them?
Very cryptic but would like to discuss further. Thanks!
I was hoping this was going to gap down big time so I could load more. Sounds like everyone taking this all the way through. Good luck to all!
From Sorhay’s Twitter
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-060_052119.pdf
Not sure but I added today.
Yes did it air? I looked all over Fox, Fox News, and saw nothing. There was a 30 min stem cell infomercial but nothing to do with Caverstem.
I own this stock. I am embarrassed to own it. Rory is a con artist and I’m stuck with this POS.
Finally some will call out the farse
I meant kkr backed lcyb to RM into bioa. And kkr owns private companies too, lcyb in this case, so you may not see the big picture after all.
Would you care to Enlighten me?
So BC do you suggest we are selling off our rights to patents to pay the creditors? Lanxess gave us 10 mm in 2012 not sure if we owed anything.
If true that we are selling off IP why would KKR want to RM with us? At the end of the day only our contracts would be of value and will be able to produce anything without the patents?
Response from the webwaster:
Hi,
The article is actually from 2016 – we appear to be suffering from a bug
where each article shows the date as today.
Mark left us a few years ago to run an audio production company, but it
seems his article was based on this press release:
https://www.prnewswire.com/news-releases/bioamber-secures-cad10-million-loan-from-bdc-for-sarnia-plant-577165581.html
Best,
Thierry