BioAmber Inc fka BIOAQ

[bioaq_sh]

As a reminder;

LCY Chemical agreed with KKR to a $5 million spending cap until their deal closed in Jan 2019.

That info coupled with the info below from an article published in Sept 2018;

"In the filing, KKR said that it and the Lee family have borrowed US$870 million from banks to go with US$650 million of its own funds to carry out the deal.

KKR said that the Lee family would have to come up with another US$290 million to buy the stake in Carlton (Luxembourg) Holdings SARL via an issuance of 200 million new shares.
...
KKR said that the Carlton shares acquired following the takeover would not pay dividends and would have no liquidity in the next five years." - https://www.taipeitimes.com/News/biz/archives/2018/09/08/2003699991


Looking back at the timeline, looks like LCY Chemical really needed some additional collateral/assets as leverage for loans.


Also a reminder & to quote from DD previously posted on this board;

"Nexant appraised the 30,000 MT Sarnia Plant to be worth CAD$34.5 Million as of January 2018 in a "Orderly Liquidation" or CAD$29.3 Million in a "Distressed Liquidation". That is for the Plant alone......
The overall replacement cost to build a 30,000 MT succinic acid plant in Canada is CAD$175-185 Million as stated in the Report." - https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146300809