Replies to post #67854 on BioAmber Inc (fka BIOAQ)

[trader59]

Here's your answer:

https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-049_020819.pdf

Section A beginning on page 3 talks all about it.

The assets were liquidated, they're gone, sold for $4.34M.

[Brucebannerr]

The second sales process is the liquidation. As plainly spelled out in the monitors report to the court . Did you not read it .

10. Following the failure of the SISP to realize a going concern sale of the business, and based on the views
of the Company’s secured creditors at that time, the focus of the Company shifted beginning in early
August 2018 to conducting a liquidation sale process within the CCAA Proceedings. The Third
Amended and Restated Initial Order authorized the Company and the Monitor to conduct a second
sale process to seek other offers for the Company’s assets and operations in a liquidation scenario (the
“Second Sale Process”). The manufacturing operations of the Company were suspended in early
August 2018 and the vast majority of the Company’s employees were terminated.

[TenKay]

You would have to ask PWC why they worded that particular sentence that way. But it’s like asking why did they say “second” instead of “subsequent” or “follow-on”.

But it is abundantly clear from the Monitor’s reports via many many references to the sale of the plant that it was a result of the “second sale process”...which the company first revealed was going to have to happen in their July 31, 2018 PR when the SISP failed.

And for anyone confused by that particular sentence need only look a little further for a more detailed explanation.



The “second sale process” was the “liquidation sale process” that result in the plant (I.e. the operating asset) being sold.