Amyris gets approval of bid procedures; auction set for Nov. 28

By Sarah Lizee

Olympia, Wash., Oct. 16 – Amyris, Inc. secured approval of bid procedures for its operating consumer brands, including Biossance, JVN, Rose Inc., Pipette, MenoLabs, Stripes and 4U by Tia, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Intrepid Investment Bankers LLC is acting as investment banker.

By the time the bid procedures were filed, Intrepid had identified and contacted over 300 potential buyers, both industry and financial players, nearly 200 of whom remained active in the process, Amyris said.

As of Sept. 15, over 85 of those parties had signed non-disclosure agreements, received access to the comprehensive data room maintained by Intrepid, and started to conduct due diligence.

Of these, more than a dozen potential bidders have provided the debtors with non-binding indications of interest with respect to one or more operating consumer brands.

The debtors may designate a stalking horse bidder for the assets.

The deadline to submit qualified bids of 5 p.m. ET on Nov. 14, an auction will be held on Nov. 28, and a sale hearing will take place on Dec. 12.

The company hopes to close a sale by Dec. 29.

Emeryville, Calif.-based Amyris is a synthetic biotechnology company. The company filed bankruptcy on Aug. 9 under Chapter 11 case number 23-11131.

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