RE: CUDA - 25-11-2128 Nov 2021 09:37
Prior to receivership the senior lender was looking for buyers with a deadline at the end of October. Clearly nothing attractive was on offer hence the receivership.
"The Company and the Senior Facility lender have agreed to engage a sales advisor by August 9, 2021
to pursue a sales process, including the opening of an online data room by August 27, 2021.
Additionally, the Company shall execute one or more non-binding letters of intent by September 30,
2021 and a binding offer to purchase by October 31, 2021."
So as part of the sale process has been gone through hopefully the receivers job will be helped by the previous exercise in terms of them knowing what was on the table.
With regard to news I think anything on Cuda may be weeks away as the receivers will have their process to go through.
Next news surely update on production and fed deep hopefully by mid December.
ALB