Replies to post #43316 on BioAmber Inc fka BIOAQ

[1manband]

Part E of the Document #15 filed with the US Bankruptcy Court for the Chapter 15 bankruptcy of BioAmber Inc.

"27. The Sale includes the purchase of all of the rights and interests of the Company in its books and records, owned real and personal property, and intellectual property, with the exception of certain specific assets such as the Company's cash, accounts receivable, and inventory. A summary of the key terms of the Sale and APA is provided below.

28. The Sale includes the assets of the Debtor, which is based in the United States. Neither the DIP Lender nor the Comerica Syndicate have any security interests in assets located in the United States. Accordingly, the portion of the purchase price allocable to these assets will not be distributed to the DIP Lender or Comerica Syndicate and will instead be distributed to creditors of the Debtor.

29. The Purchaser anticipates allocating a minimum of $150,000 (USD) of the purchase price to the assets of the Debtor."

All the assets, both in Canada and the US, are being sold for a total of $4,340,000. The Canadian assets are secured, so the cash from the sale of those assets goes directly to the secured lenders. The US assets are not secured, so the funds from the sale of the US assets ($150K) will go to the debtors and creditors of the US company, BioAmber Inc.

[rockettjay]

The aforementioned 150,000 is not in the APA filed in Delaware, but another 19 paged document filed in Delaware. The name escapes me ATM.