DISCLAIMER TO THE DISCLAIMER, Shareholders will lose 100% of their investment in this stock. Let's break it down:
Absolutely. Please be sure to read the court appointed monitor's reports completely as well as the court motions and orders. If that is done, this false notion that the monitor is deliberately concealing a secret sale of the empty, debt ridden shell on the order of over $60M that provides recovery to shareholders will be revealed as a hoax supporting a stock sale.
With the $3.5M distribution to the Comerica Syndicate approved by the judge on 12-17-2018, BioAmber has $59.7M remaining debt owed to the secured and unsecured creditors, the assets have been liquidated, meaning there are no revenue producing operations. That is the very definition of bankrupt.
BioAmber entered CCAA proceedings hoping to restructure and continue operations, but that failed when they didn't get a single bid for investment, financing, recapitalization, or a purchase of the company. It moved to liquidation of the assets:
BioAmber is in Chapter 15 until the subsidiaries that owned the plant and other assets in Canada are dispositioned, then it will move back into the US courts.
BioAmber is now an empty shell with $59.7M of debt. It is ridiculous to suggest that any entity will seek to acquire it, there's no value to it whatsoever.
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