Latest Status: restructuring
Background Information
In early February, 2020, Project Italy (the “Company”, the “management team”) engaged Bird Capital Partners (“BCP”, we, us, the “investment team”) through an investment bank, Hinge.
After initial due diligence, the investment team agreed to further pursue the opportunity. By communicating with the management team for about a week, both parties had a handshake on an initial meet-up to review matters regarding cultural fits.
Major Development
During the merger discussion, we and the Company made pre-acquisition attempt. However, due to some structural challenges of the macro-environment, the chemistry between two parties wore off.
The investment team brought in an outside consultancy, Basmouk Co., to facilitate the restructuring effort. A senior partner from Basmouk Co. had made final engagement and recommendation on the distressed situation. BCP was informed that there might be a chance of which the Company successfully emerge from the out-of-court Chpt. 11.
On Friday, 14 Feb, 2020, the Company engaged the investment team. A second due diligence meeting had been set henceforth.
To be updated.
Bird Capital Partners 