GREY:LSTMF - Post by User
Comment by
Pancho2on Jul 05, 2017 4:24pm
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Post# 26436887
RE:Someone saw this?
RE:Someone saw this?
What does it mean?
New Site
https://www.ridgeback.com/
Dec 8, 2016
The Sale Transaction will be effected pursuant to an Asset Purchase Agreement dated November 29, 2016 (the “Agreement”) between Lightstream and Ridgeback Resources Inc. (“Ridgeback”). Ridgeback is a new private company established for the purposes of completing a credit bid for the assets and business of Lightstream on behalf of holders of the Secured Notes. Closing of the Sale Transaction is expected to occur on or about December 29, 2016 (the “Closing Date”). The Approval and Vesting Order provides for the vesting in Ridgeback of the rights, title and interest in Lightstream’s assets, free and clear of all security interests (subject to certain limited exceptions) upon closing of the Sale Transaction in accordance with the terms and conditions of the Agreement. Post-closing, Ridgeback will own and operate the former assets and business of Lightstream. Closing remains subject to the satisfaction of certain conditions, including with respect to payment of priority claims and new bank financing for Ridgeback. On the Closing Date, holders of the Secured Notes will be issued a pro rata number of common shares of Ridgeback based on the principal amount of Secured Notes held by them and the Secured Notes will be automatically cancelled.