A couple of years ago I invested in Solazyme, a biofuels company, which last year renamed itself TerraVia (TVIA) and shifted their focus to algal food products. Earlier this month, they declared bankruptcy. The company is now listed as TVIAQ.
I don't expect any kind of miracle to lift the price of this stock, but I'm relatively new to investing and this is the first time one of my positions has been completely wiped out. What should I do with TVIAQ? Leave it in my portfolio? Sell what little I have? The food ingredient company Corbion has made an offer on Terravia:
The bankruptcy will not mark the end for the algae business. TerraVia’s debtors have agreed to run the company and fund its operations. If the sale proceeds, Corbion plans to incorporate TerraVia’s fatty acids and algal proteins into its own product line. In recent years, Corbion has been expanding beyond its traditional lactic acid-derived offerings.
If Corbion does buy TerraVia, what will happen to the TVIA shares I currently own?
Submitted August 26, 2017 at 10:05AM by eraserh http://ift.tt/2vyqgp0
