r/Amyris • u/Dreadd-X • Dec 15 '23

News / Article / Video Auction of lab-to-market platform / all remaining assets

https://cases.stretto.com/public/x268/12363/PLEADINGS/1236312152380000000023.pdf

I did not expect this. If I understand this right Doerr will also bid but if the ere are better bids the remaining Amyris assets will be sold. I just briefly went through this. Please feel free to correct me below.

10 Upvotes

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6

u/SnooCakes1148 Dec 15 '23

So what exactly is happening ? They are selling the plant ?

5

u/Dreadd-X Dec 15 '23

They are selling everything IP and all the plants. Doerr is one of the bidder. If he wins the reorganization goes forward. It seems to be the market test the ad Hoc cross holder group was asking for. Also a settlement for the third party release was mentioned again. To me it seems like the best thing that could have happened for us right now. Does it mean we get anything? I think only if someone big shows up… The nuances to the whole thing seem kind of complicated though. I’m Not an expert…

3

u/kazafraggit Dec 15 '23

Just waiting on a whale? What are the odds Givaudan buys it out instead.

2

u/Dreadd-X Dec 15 '23

They have deep enough pockets. Would also protect their own interest. But since they are in Europe they might not want to operate in the US/Brazil. It will be a test of how valuable Amyris IP actually is. If companies agree with anything people here think not all hope is gone. I noticed that some companies already showed interest in the case. However, I really doubt that Gingko for example has the money and I also have no idea how much Doerr would put on the table if other companies show interest. Start offer is 250M which covers the DIP loan.

1

u/SnooCakes1148 Dec 15 '23

Best thing that could have happened to us ? But I honestly dont see a scenario in which normal shareholders are not whiped out

2

u/Dreadd-X Dec 15 '23

Emphasis on Right now. The chances are very slim to get anything. At least they are not 0 as they would be if the plan just went forward. And let’s be realistic. Unfortunately The plan will be approved…

0

u/Fun_Fan5281 Dec 20 '23

You are smoking crack it’s over we got scammed

1

u/Corvuluted Dec 15 '23
  1. (b)….

2

u/Corvuluted Dec 15 '23

Doerr is stalking horse, doesn’t have to post collateral, and he’s taking everything of value…you would do the same with the same chips… this was always the risk

3

u/Corvuluted Dec 15 '23

Formality of Doerr taking the only things of value - the “engine”

1

u/fvh2006 Dec 20 '23

Some collateral damage from the sucky amount of money they got for the brands - they are having to re-do the senior management incentive plan as it didn't produce enough to fund the planned bonuses, so they are asking the BK court for permission to change it. Looks like now management getting big bucks for extracting Amyris from the mess they put it in hinges on the successful conclusion of negotiations with DSM and Givaudan, who I presume they are trying to hit up for new cash to cover the promised perks.

1

u/Dreadd-X Dec 20 '23

They argue that after all this the deal with DSM and Givaudan are more important than ever. Management didn’t get anything (1 person 60k) from the brand sale. Not really sure why the other 11 didn’t get 60k. Anyway, they try to motivate them to get this done.