If one were to read and comprehend the 1st monitors report. It would go a long way .
1. The Companies are each owned 100% by its American parent company BioAmber Inc. (“BAI”). BAI is a
Delaware corporation and until March 12, 2018, its shares were listed on the New York Stock Exchange
(“NYSE”) under the symbol (BIOA). The securities were also traded on the Toronto Stock Exchange
(“TSX”) until March 16, 2018. On May 4, 2018, BAI filed a petition under chapter 11 of the US Bankruptcy
Code in court file number of the United States Bankruptcy Court of the district of Delaware. The chart
below demonstrates the corporate structure of the BioAmber group (collectively designated as
“BioAmber” or the Debtors):
BioAmber Canada
15. BioAmber Canada is a wholly owned subsidiary of BAI (as shown above) whose role within the corporate
structure is to provide management services to support the operations of BAI and of BioAmber Sarnia. As
such, it is the head office of the business and its control center.
BioAmber Sarnia
16. BioAmber Sarnia is the operating company, conducting business activities from the Sarnia facility (the
“Plant”). BioAmber Sarnia was formed as a joint venture, with BAI owning a 61.1% therein and Mitsui &
Co. Ltd (“Mitsui”) owning the remaining 38.9% interest therein.
17. BioAmber Sarnia has been a wholly owned subsidiary of BAI since August 1, 2017, when BAI purchased the
joint venture participation of Mitsui. As such, Mitsui is no longer a shareholder of BAI, it, however, still has
a guarantee towards BioAmber’s first ranking secured creditors in the amount of approximately
CA$4.5 million.
AI
