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TerraVia wins approval of $20.9 million in assets and equity sales
By Caroline Salls
Pittsburgh, Sept. 15 – TerraVia Holdings, Inc. received court approval of $20.9 million in sales of its assets and Algenist equity, according to orders filed Friday with the U.S. Bankruptcy Court for the District of Delaware.
As previously reported, Corbion NV submitted the winning bid for TerraVia’s assets with a $20 million offer.
Meanwhile, TCP Algenist LLC submitted the winning $900,000 bid for TerraVia’s Algenist equity.
TerraVia, previously known as Solazyme, Inc., is a South San Francisco, Calif.-based maker of plant-based food, nutrition and specialty ingredients using algae. The company filed for bankruptcy on Aug. 2 under Chapter 11 case number 17-11655.
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