This is the plan:
Enzolytics, Inc. (OTC PINK: ENZC) (“ENZC” or “the “Company”) recently entered into a nonbinding letter of intent with Sagaliam Acquisition Corp. (“NASDAQ: SAGA”) (“SAGA”)(together the “Parties”) to sale its two operating subsidiaries Biogenysis, Inc. (“BGEN”) and Virogentics, Inc. (“VIRO”) in a transaction valued at $450 million. The purchase price includes a make-whole provision to be calculated six months after close of the transaction. ENZC has disclosed its intention to declare a dividend and subject to and upon approval by the regulatory entities the value of the transaction will be paid to ENZC shareholders as of the date of record. The remaining terms and conditions are still being negotiated and are not to a point where any other provisions can be disclosed with certainty. The parent company ENZC and its othersubsidiary RobustoMed, Inc. (“RBMD”) are not part of the transaction.
This is FANTASY until we get the remaining terms and conditions.
The following is presented as an EXAMPLE ONLY and while the terms are similar to the expected terms, the negotiations between the parties may produce significant differences from that presented in this example. The example is presented for illustrative purposes and only as an example of a similar transaction.
After the dividend to Company E shareholders, there would be no assets or operations in
Company E, but management would be able to purchase new operations or develop other
products that would be the assets of Company E. The Company E common shares would
continue to trade on OTC Markets as a new business strategy is implemented.
ENZC was VERY EXPLICIT (stated clearly and in detail, leaving no room for confusion or doubt) in say the example transaction is presented for illustrative purposes and only as an example of a similar transaction.
Nobody knows what will remain of ENZC until after the deal is signed.
Many people have many opinions from the "SKY is FALLING" to "to the MOON".
What is interesting is in Supplemental Information ENZC assets are mentioned while in the EXAMPLE ENZC is left with no assets.
It has caused much debate as to what it all means and people have shared their opinions, frustrations, likes ,dislikes etc.. and has brought colorful posting supporting the different views.
We will find out what it all means when the 8K is released until then like the Beatles said:
Let it be, let it be
Let it be, let it be
Yeah, there will be an answer
Let it be
Let it be, let it be
Let it be, let it be
Whisper words of wisdom
Let it be
