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Nice rebuttal, like we said before; it’s boilerplate.
Read my previous posts
Because they got the mountain of paperwork completed and signed off by the judge during a federal holiday 4 day weekend? Whatever you say.
Which means a buyout has been reached.
Boilerplate, next...
We could get it any day. The 18th was just the extension for the creditor protection. It mentioned in both pwcs 5th report under #34 and yesterday’s third party PR that they don’t foresee this taking until the 18th. I’m calling buyout news next week.
It’s only confusing if you don’t have a full grasp on all aspects of what’s transgressed. I’ve read every report multiple times page for page. We’re golden here.
Liquidation = sale of assets = buyout. Don’t get so hung up on the wording. Look at the forest not the tree.
Nope, he’s still employed at bioamber until the new company takes over. Both the CEO and CTO are kept on board at 50% salary until that happens. Says it right in the last 2 reports.
His average is .26, not .04
We can agree to disagree on minute details. However there’s no argument in saying the board has resigned because a deal has been reached.
For those that don’t know this in and out such as myself you need to realize something.
Bioamber was always in a voluntary CCAA. With that said bioamber had the final say here. The only reason for the board to resign is because it was part of the terms presented by the winning bidder. The board AGREED to resign to complete the sale.
The court and pwc could not enact this on their own accord again because this was voluntary.
What this tells me is this deal is done. Expecting buyout news next week. Enjoy your weekend people!
This is Awesome, this in part explains the delays. They were trying to figure out the severance terms for the board. Smells like next week is it to me. Can’t wait to cash in!
A private charter jet such as the one he dug up costs approximately 5k USD to book in my research. Without being able to find the tail number in the registry it’s impossible to know much more than that.
I love this, mapping it out it’s about a 20 min drive to the plant. Looking at the time logs that left about 3 hours to tour the facility, which in my personal experiences is accurate. Excellent work and outside the box thinking. If only we could figure out who owns the plane...
First pwc document
Well it had to be enough to keep eno from releasing another Pr on his own fruition. He’s in for $260k at .26. Safe to say it’s gonna be around that mark for him to be ok with this moving forward.
Makes you wonder what pwc views as “good”. Especially when you consider they valuated this at 1.62 if I recall.
Quite the contrary, it’s amazing news if you understand the full context of the most recent pwc report.
If the debts exceeded assets, which they don’t so..
I love this part, straight from the horses mouth
The extension was sought for a couple of reasons, including in order to complete the sale process in respect of the Sarnia property,” said Mica Arlette, a senior vice-president with Price Waterhouse Coopers, the court-appointed monitor in the company’s creditor protection proceedings.
Then you haven’t done enough DD.
You do realize that all bidders had to submit a 10% deposit to be considered a qualified bidder right? If the winner were to retract their bid they’d forfeit the deposit to bioamber.
11 companies have deposits on this right now.
There’s a reason for the extension afterall, and that reason is hashing out the details of their offers, namely the two strategic buyers as they’re the ones who will offer a fair sum for the company.
Gotta love it when the only ammo someone has is quoting boilerplate statements from documentation to scare the ignorant ones lol.
That much I can’t say with confidence. Hedge funds follow different rules this much I know. it’s totally plausible a hedge fund tied to a company could buy stock for their client. That way their purchase would fall under the hedge reporting rules.
For hedge funds etc yes. For private individuals/companies no.
We’d still have to see ownership forms for anything over 5% which at least to my knowledge haven’t been uploaded. If someone knows otherwise though don’t be afraid to post them up
Yes he does, 2 transactions at an average of .26 pps
And dick didn’t release anything on his own accord when he’s aware of the offers made. If he’s not crying foul I think it’s safe to say he stands to make his $260k back, which means we’re all golden here as well.
Just gonna leave this definition here since reading comprehension seems to be nonexistent for some.
Liquidation is the selling of the assets of a business, paying bills and dividing the remainder among shareholders, partners or other investors.
liquidation is nothing more than another way to say selling the company. It makes no implication of the buyout amount, it’s simply just a legalese way of saying we’re selling the gd company. Nothing more, nothing less.
The fact you’re even asking this means you either didn’t read the report or you don’t understand the report. Says right in the report commons are part of the buyout. Don’t let these bashers shake you because you’ve been too lazy to research your own investment.
I did read it, and it says all bids are binding. They had until the 28th to retract their bids. Now those bids are binding. I don’t think they’d want to forfeit their 10% deposit to Bioamber either.
Here’s a lovely tidbit. The bids are binding offers people. Those 2 strategic buyers are locked in now. The offers were due the 21st and this report is dated the 27th. They can’t retract their offers any longer.
Well shit I didn’t know that, I thought it was a US holiday. Thanks for that, excuse my ignorance.
Nothing can happen to the share structure under CCAA for literally the hundredth time. Not only that but there’s no transfer agent employed so they couldn’t do anything even if they could.
No reason for us not to run back up to .05+ I think the 50dma will be in the rear view tomorrow morning
Wooot! Excellent find! We’re golden people!!
I’m mobile so I can’t post it directly but people need to avert their eyes to number 34 of the report.
34. Based on its consultations to date, the Monitor is of the view that additional time is required to complete the selection of a successful bid or bids in the liquidation process. From its review to date, some of the bids received are or could become Qualified Bids, and ultimately Retained Bids. The Monitor has requested further information and clarification from some of the bidders in order to properly evaluate the economic terms of those bids. Additional consultation with the Company and its secured creditors is also required in order to consider the financial implications of the bids, and to address certain of the terms and conditions sought by some of the bidders. It is anticipated that these discussions will conclude in the week of August 31, 2018. As such, it is not likely that a transaction or transactions will be able to be closed in line with the timing in the original Call for bids, but it is expected that this could be completed soon afterward.
Remember Canada doesn’t celebrate Labor Day, we could have the mother of PRs next week.
I’m eyeballing the 2 strategic buyers, strategic = bidding war
WELP, LOOKS LIKE THE BIDDING WAR IS STILL ON!