Replies to post #109900 on BioAmber Inc fka BIOAQ

[Real McCoy]

Sure, we know all the bidders. 12 or so, all listed in the 6th report. They also provided the signed agreement for the transaction. Looks like it’s still back to you to provide any evidence at all of a second transaction. Got anything?

[trader59]

LCYB was a qualified bidder. A "two" step transaction was an option if the company wanted to recapitalize the company, but since LCYB only bought the assets in the liquidation, only 1 step, 1 transaction, was required. Why would the monitor not document a 2nd transaction if that had been the chosen path? Why would the move to close the proceedings and distribute the remaining cash if that were the chosen path?

Here, I'll answer: They wouldn't. Had this been anything other than the straightforward liquidation that it was, it would have been documented very directly and thoroughly by the monitor and approved by the two judges.