BioAmber Inc fka BIOAQ

[Swisher27]

I was initially torn between which we are seeing here but now i am leaning toward sealed tender bid (which i prefer) having read this:

TENDER SALE
Unlike the open auction process, the tender sale process is closed. The receiver defines the terms of the bidding process, in particular the manner in which bids are to be submitted and the date and time when they are to be received. In a tender sale, secrecy of the bids is essential. Bids are submitted without the knowledge of the other bids.
The receiver is not obligated to sell an asset to the highest bidder in a tender sale process. In Re Shape Foods Inc. (Receiver of) (2009), 54 C.B.R. (5th) 224 (Man. Q.B.), the receiver-manager advertised the
sale of the assets of the debtor by way of tender. Tenders closed with the highest bid being $750,000. The receiver-manager did not sell the assets to the highest bidder. Instead, it distributed a sales and information package to potential purchasers, received proposals from the potential purchasers and ultimately sold the assets for $4.5 million.

https://www.tdslaw.com/site-content/uploads/obtaining_maximum_benefit_for_the_assets_of_an_insolvent_business.pdf