BioAmber Inc (fka BIOAQ)

[101King_Kong101]

The point is that the PWC required a subscription price from "qualified bidders" in a recapitalization strategy.

How can you completely rule out a recapitalization strategy when the PWC has reported the one of the leading bids included a post-close distribution following an equity raise?



This sure sounds like a recapitalization strategy to me.
These are directly from the PWC, a court-appointed monitor, not just opinions of an outsider.

Is it entirely impossible that this extension will provide LCY-Bio time to execute the proposed equity raise?
Take control of Bioamber Inc., allocate unissued shares (+126MM), and set a subscription price?
This seems like a relatively cheap, fast, simple equity raise to me.

As for the motive to utilize BIOA, it's all in the attributes:
-NOL carry-forward "change of ownership" rule doesn't apply in CCAA proceedings...NOLs stay entirely intact
-Cost basis step-up to FMV for assets purchased in APA
-Fast, cheap, simple equity raise that is in the best interests of all stakeholders