AI
Wednesday, January 30, 2019 11:50:40 PM
No, the second SISP in "Liquidation Scenario" ended with qualified bid(s).
LCY and Visolis had a LOI for Investment in Bioamber.
The Board of Directors and the Court approved the Qualified bids prior to voluntarily resigning at the end of August.
The first bid was for the assets. That transaction is referred to as the Visolis Transaction.
The second bid was for investment in or recapitalization of Bioamber Inc. Until that transaction closes, you will not find any amounts owed to the KERP charge in cash flow sheets as stated in court documents. After it this second transaction closes, the remaining 2/3 of the Incentive payments will be made and the whole payment will be reflected on the cash flow forecast.
LCY and Visolis had a LOI for Investment in Bioamber.
The Board of Directors and the Court approved the Qualified bids prior to voluntarily resigning at the end of August.
The first bid was for the assets. That transaction is referred to as the Visolis Transaction.
The second bid was for investment in or recapitalization of Bioamber Inc. Until that transaction closes, you will not find any amounts owed to the KERP charge in cash flow sheets as stated in court documents. After it this second transaction closes, the remaining 2/3 of the Incentive payments will be made and the whole payment will be reflected on the cash flow forecast.
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