They own the shares of KAHC they paid for. All the proceeds from that sale are in trust, and it is shown right there on the balance sheet of KAHC. That's where it will stay until the business combination is consummated with a company that has ongoing business operations.
BioAmber's assets were sold in the liquidation, including the plant, patents, and other IP. It's all gone and the company shut down. This effort to conflate BioAmber with KAHC is just another smoke screen.
Does anybody really believe that KKR is stupid enough to pay over a billion dollars for a liquidated and shut down company, one that one of their subsidiaries acquired all the assets of for $4.34M? Nope. Some are only pretending to.
I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.
