Here's how much BCCI is offering for Tully's inf

Here's how much BCCI is offering for Tully's info from Court papers

Looks good, on paper BCCI is offering $5.8 million more than only other bidder. They could win this one and end up owning Tullys.

But in court papers filed last week, Baristas sketched out a proposal to pay about $1.5 million in cash, take on about $2.8 million in existing liabilities, and issue $6 million in unspecified “negotiable securities” to unsecured creditors and shareholders of Tully’s.

Its offer must compete with the only confirmed bidder, a Colorado private equity firm that offered to pay $1.5 million in cash and assume about $3 million in existing liabilities.

Baristas said Tuesday it will bid through a new entity, Baristas Acquisition Partners, that includes several current Tully’s shareholders and other investors.