Replies to post #100480 on BioAmber Inc fka BIOAQ

[Real McCoy]

They likely were complaining because they lost. But anyway, here is what PWC publicly stated to the judge that was offered:

GFive:

$3.5M CAD on closing plus, if it were able to raise $20M in additional financing, an option of i) another $2M payment, or a $1M payment plus 5% of the NewCo's EBIT for 10 years capped at $10M

Visolis

$4.34M US on closing

Both bids were only for the assets, however it is noteworthy that GFive did point out specifically that it would not assume the liabilities or employment contracts. Needless to say, this is a specific rejection of any share purchase theory as buying the shares would, of course, obligate the purchaser to take on the liabilities.

The entire APA is available publicly. The T&C was under seal until the transaction closed.

[TenKay]

You are mistaken.

1) PwC did not require anything for the shares of BioAmber. Bidders were free to make an offer for them, no one did as the Bid Summary in Report #6 shows

2) GFive was proposing to share a portion of en equity raise THEY WOULD DO as contingent payout to the secured creditors as the Bid Summary shows. The secured creditors rejected it

3) Visolis/LCY never offered any sort of “share purchase”, and none is showing on the Bid Summary.

[toncatmad]

Page 37 of the 6th report shows the unsealed bids. None of them include any verbiage about shares at all.

Please tell me how this can be taken any other way than what is stated. That is all that was paid for everything.


ARTICLE 3 PURCHASE PRICE AND TAXES

3.1 Purchase Price. The consideration payable by the Purchaser to the Vendors for the Vendors’ rights, title and interests in and to the Purchased Assets shall be $4,340,000 (the “Purchase Price”).

3.2 Satisfaction of Purchase Price. The Purchase Price shall be paid and satisfied as follows:

(1) the deposit in the amount of $334,000 paid in support of the Offer by the Purchaser to the Monitor in trust on behalf of the Vendors (plus any interest accrued thereon further to the receipt by the Monitor) (the “Deposit”) and shall be applied against the Purchase Price on Closing; and

(2) the balance of the Purchase Price, after crediting the Deposit (including interest), shall be paid by the Purchaser to the Monitor on behalf of the Vendors on Closing.

[Brucebannerr]

There is no link to any G5 complaint .The complaint was bogus which is why they never filed an objection with the courts .
And it is apparent the crow crew is also clueless on shorting and margin calls . If you could even find a broker to let you trade the debt ridden shell on margine . That fantasy margine call would have happened 3 months ago .