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MONTREAL, Aug. 31, 2018 /PRNewswire/ - BioAmber Inc. (the "Company") (BIOAQ) announces that following a Court order issued on August 28th, 2018, the stay period ordered by the Court in connection with its restructuring process under the terms of the Companies' Creditors Arrangement Act has been extended until September 18th, 2018, in order to give enough time to the Company, along with its monitor PricewaterhouseCoopers ("PWC"), to carry out the recently initiated liquidation process. As a result of the liquidation process, all of the directors and officers of the Company and its subsidiaries have resigned, leaving PWC to oversee the process in its role as monitor, under the supervision of the Court. There can be no guarantee that the Company will be successful in securing an acceptable offer in connection with the liquidation of its assets. Moreover, if an acceptable offer is received, the liquidation of the Company's assets will almost certainly result in no residual value for non-secured creditors and equity investors.
MONTREAL, June 18, 2018 /PRNewswire/ - BioAmber Inc. (BIOA) ("BioAmber") announced today that it has received formal Quebec court approval for debtor-in-possession (DIP) financing. A CAN$3 million DIP financing, provided by Maynbridge Capital, will be disbursed to BioAmber in two tranches: up to CAN$2 million can be disbursed through July 31 and an additional CAN$1 million can be disbursed after July 31, assuming the receipt of an LOI. "The approval of DIP financing is a positive milestone in the continued restructuring of BioAmber.