BioAmber Inc (fka BIOAQ)

[toncatmad]

Mitsui is selling their products with their tech. If they licensed the tech it would be from LCYB.
BioAmber obviously owns nothing as it was all sold in the liquidation to LCYB all of the tangible and intangible assets were sold back in 2018 for a total upfront purchase price of $4.34 mil to LCYB. Yep that LCYB is pretty smart they acquired all of BioAmber for pennys on the dollar free and clear. LCYB was smart enough to only purchase the assets and steered clear of the corp and the shares. Since LCYB didn’t have to buy the shares they saved themselves about $60 mil or so of bad debt.
BioAmber was a complete failure. All BioAmber did was burn through cash at an increasing rate. They could not make the plant or the tech viable with the lowering cost of oil at the time.
IM Sure LCYB with the knowledge and backing of LCY and KKR will be able to actually realize gains from their tech and new plant. Now LCYB did invest millions into the plant before startup as well. I hope either LCYB OR LCY goes public. I would love to see them both go public as when nothing changes for BioAmber shareholders it will be funny to watch the excuses and lawsuit talk fly