RE:Lightstream share holdersI will wait until the Broker tells you the shares are worthless.
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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.
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.
Credit Bid was approved under the CCAA (Sales Transaction) Dec 8, 2016.
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As part of the proceedings under the CCAA, the members of the Ad Hoc Committee will make (or direct) a credit bid (the "Secured Credit Bid") for the full amount of the claims outstanding in respect of the Secured Notes, which Secured Credit Bid may serve as a stalking horse transaction in the SISP. In the event that the Secured Credit Bid is the successful bid, the entity through which the Secured Credit Bid is completed will commit to replicate any consideration that was offered to the Unsecured Noteholders or Shareholders in the CBCA Plan Transaction as part of the Secured Credit Bid.
The CBCA Plan Transaction stated
· t
he existing Common Shares will be consolidated and new Common Shares will be issued, with the result that approximately 100 million Common Shares will be outstanding,
·
existing Shareholders will hold a total of 2.25% of the then-outstanding Common Shares
·
the Secured Noteholders will hold a total of 95% of the then-outstanding Common Shares in full and final satisfaction of their Secured Notes and claims in connection therewith.