Lcy bio is now the proud owner . Paid for in full . You now have absolutely nothing to do with them or the plant . They have nothing to do with anything concerning this company . They can do whatever they want from here on out . And it wont be cutting a check to make stakeholders happy .
Here’s the problem....we have seen Visolis’s offer letter. Nowhere does it mention an equity raise nor any earnout or other contingent or follow on payments.
While they were proposed by various bidders, there is no such component to Visolis’ final offer.
Now the purchase price listed, but blacked out, on the same page is enough space for a dollar sign, to wit, $, and 9 figures, excluding commas, or:
$000,000,000 suggesting a purchase price at least > $100,000,000.
Let this at least be our speculative starting point, or base price platform, if you will. LCY/Visolis knows what the facility is worth in terms of fair market value; they know what the outstanding debt is; and, in this document, they made a point of focusing on, in their purchase, of all intellectual property, patents, etc., so lets add at least $70M to the based platform, for they know the BIOA process can generate $1.2B in revenue per year when fully operational.
Therefore, we ought to be able to conclude that a speculative base purchasing prices would be AT LEAST > $170,000,000. -
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