Replies to post #61441 on BioAmber Inc fka BIOAQ

[CSCS]

Why would key stakeholders be allowed to review the offers if they weren't getting paid?
Why did all of the secured lenders sign off on the deal if only the comerica syndicate was getting $3.5million and they get left in the dirt... That might happen in US Chapter 7 or 11 but that is not happening with Bioamber in Ccaa restructuring proceedings... The judge would not allow the transfer of assets at such undervalue of the FMV with out a further transaction to make whole the creditors...
ALL SECURED CREDITORS SIGNED OFF ON AN OFFER THAT IS A POSITIVE RESULT FOR ALL SKATEHOLDERS INCLUDING SHAREHOLDERS!
BUSINESS AS A WHOLE!!

[101King_Kong101]

And after the stay was approved that motion was for, what happened?

Great question, let's review the timeline:

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8/21/18: PWC receives two offers for the "business as a whole" and 11 total offers.




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Week of 8/27/18: PWC reviews bids with management and Secured Creditors; they ultimately decide to focus on the two leading bids.




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Here's the bid summary from PWC confirming 11 total bids.




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8/31/18: Arlette sends acceptance letter to Visolis/LCY and BOD voluntarily resigns.






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Thanks for pointing out the timeline of the transaction!

Once again, Docs > Unsupported Opinions.