M&A, Corporate and Financial News

Bio-on May Survive With a Debt Restructuring

Bio-on May Come back sooner than expected.

Bio-on is studying the option of a potential debt restructuring.

The purpose would be to avoid the dissolution of the company, to preserve business continuity and to save employments, the technology and the start-up mentality.

How would they do it? By using insolvency procedures.

Plastic News – 29 May

If they do so, they would reorganise the company in an objective and subjective way.

Context

  • Bio-on was listed on the Italian Stock Exchange.
  • A US company published a report on Bio-on and the share value collapsed. It lost 90 % in one day.
  • Bio-on CEO (Marco Astorri) was put under house arrest and Bio-on was set under Administrative Guardianship.

One important detail.

Marco Astorri has not yet been convicted and is still “innocent” until proven otherwise….that’s just a basic human right, the fundamental of our western democracy.

 

Marco Astorri, CEO Bio-on
Marco Astorri, EX-CEO Bio-on

 

REFS

Winners of Corona Crisis

Bio-on press Release Debt Restructuring

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