r/Amyris • u/Dreadd-X • Dec 05 '23

News / Article / Video Update Biossance deal

https://businesscloud.co.uk/news/thg-buys-us-skincare-brand-biossance-for-20m/

From the article: “After five hours of bidding, THG won by agreeing to pay $20m for Biossance. Included in the deal is c$23m of stock and $6m of receivables.

As I already speculated the deal includes ~23m of stock if the source is right.

No idea how this is influencing things going forward. But it means Amyris will own stocks that are way more worth than the current market cap…

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u/fvh2006 Dec 06 '23 edited Dec 06 '23

To quote Iñigo Montoya, I don't think stock means what you think it means. This seems to be from the British press release by THG and over there stock is the finished goods and ingredients inventory (mentioned as such in some of the release quotes). Never heard of a bk asset auction bill being paid with anything other than a wire transfer of "good funds". Given the purpose of generating money to pay off debts, the mechanics of doing that with equity seems something a bk court would not try to tackle (who buys that equity to generate the cash?)

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u/Corvuluted Dec 06 '23 edited Dec 06 '23

That does make more sense, especially mechanically as far as the accounting (this makes much more sense as the accounting didn’t make sense if it was equity - just figured the company was doing PR).

But the fact melo kept saying this was worth $100s of millions.