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Thursday, 09/21/2023 4:04:25 PM

Thursday, September 21, 2023 4:04:25 PM

Post# of 80867
Well - there is now a new owner at Musclepharm.

For those few still following the carcass of Musclepharm, here are the highlights:

A. The various creditors, secured and unsecured, the vulture fund Empery, and Drexler spent the summer burning through cash sorting out litigation in Judge Cox's bankruptcy and other civil courts. At least counsel made money out of this debacle.
B. Ultimately the investment bank Hilco was retained to seek a buyer. Empery used their credit bid of $18M as a stalking horse. Naturally, nobody else wanted to bid anywhere near that price.
C. Attached is a link to the results of the sale proceeds - : it's gloomy


So this is the result - Musclepharm's Ch. 11 bankruptcy became a liquidation as expected, and as a result a short micro-cap hedge fund from NYC owns it (for now).
Based on the prepared liquidation analysis, none of the funds went to Drexler, or to Prestige Capital. As for those steep historic NOL, looks like they go to White Winston.

Beast Nutrition is still for sale, at a much more realistic valuation and without the litigation headache. So for any readers out there looking to carry the sports nutrition torch, there's an alternative to start looking elsewhere.

Good night, and good luck.