Hamernik, L.L.C. Supports Distressed Seed Company Sale
Posted on 09. Aug, 2010 by admin2 in Engagements, Hamernik Headlines
July 30, 2010: Hamernik, L.L.C. supports recent seed company sale.  The Firm’s efforts began in late 2009 first assisting the company in negotiating terms with the bank to continue operations while soliciting offers.  With the cooperation of the secured lender, the company successfully sold through its traditional sales channels, capturing retail value for most of its inventory.  As a result, the customer liabilities were satisfied upon delivery of the seed and the debts due the secured lender were reduced in excess of $1.0 million.  The continued operations enabled the process of exploring potential buyers so as to capture the enterprise value of the company, retaining the customer base and maximizing the proceeds to the secured lender.
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