It reached more than US$1000 billion: an agribusiness company called its shareholders to vote on its liquidation

Moolec Science, the biotechnology firm that had indirectly taken control of Bioceres SA, will submit the proposal to an assembly on October 20 - 5 minutes reading The biotechnology agriculture company Moolec Science SA called an assembly for its shareholders to vote on its voluntary liquidation under the Cayman Islands Companies Act. In December 2022, the firm, then controlled by the Bioceres Group and led by Gastón Paladini, was considered a unicorn after surpassing a market value of US$1 billion. The board proposes to proceed with the formal closure of the company and appoint two liquidators of Interpath, according to a power of attorney sent to the shareholders. The board recommends approving the proposal, according to the power of attorney form distributed to the shareholders to which LA NACION accessed. The call is known after the bankruptcy of Bioceres SA, the company founded by the Argentine group, and amidst a complaint against its executives for alleged money laundering maneuvers. Moolec became the indirect controller of Bioceres SA in June 2025, through a corporate reorganization instrumented with a share swap. The shareholders of Bioceres Group delivered their holdings in the holding in exchange for Moolec shares, which became the owner of 100% of that company, according to the corporate structure reported to the U.S. Securities and Exchange Commission (SEC). As Bioceres Group held 89.93% of Bioceres SA, the operation left the Argentine company under the indirect control of Moolec. This reorganized the framework that previously had the Bioceres Group as a relevant shareholder of Moolec. The meeting will be virtual and will take place on October 20, at 9 a.m. US Eastern Time. It proposes to appoint Cassandra Ronaldson and Amiel Gottlieb, of Interpath (Cayman) Limited, as joint voluntary liquidators, with the powers to carry out the process. Moolec Science is listed on the Nasdaq, in New York, under the symbol MLEC. The latest available quote for Moolec (MLEC) is US$1.65 per share, with a drop of 8.33% from the previous close. Paladini served until April 22, 2025, when the combination of Bioceres SA took place. The shareholders must also rule on the conservation of books and records for five years after dissolution and their subsequent destruction. A proposal authorizes postponing the assembly to continue requesting voting powers if there is not sufficient support. The liquidation still must be subject to the decision of the shareholders: the form accredits the call and the board's recommendation, but not its approval. For a source consulted, who requested anonymity, the news is of particular relevance to the original shareholders of Bioceres SA, the company founded in 2001 by Argentine producers. According to their interpretation, those shareholders lost the entirety of their investment after the operation that linked them with Moolec, indicated the executives of Bioceres. The call document does not quantify these losses or inform whether there will be a remainder for the shareholders. The same source considered that the eventual liquidation would not have an impact on Bioceres Crop Solutions, known by its stock symbol BIOX. "I don't think it will have an impact," he said. Last March, representatives of the "former Bioceres SA" stated that, after the bankruptcy, Moolec had ceased to be their controller and that the financial situation had originated before the combination. They also attributed the request for bankruptcy to the new board, assumed in December 2025 under the management of the Uruguayan businessman Juan Sartori. Moolec held a portfolio of holdings valued at more than US$160 million in seed, ingredient, and biotechnology businesses in Argentina, the United States, and Europe. It included companies dedicated to the conditioning and production of seeds, the elaboration of vegetable proteins, the development of crops capable of producing animal proteins, and precision fermentation. One of its best-known developments was Piggy Sooy, a soy modified to produce pork protein. In April 2024, the company announced approval from the Animal and Plant Health Inspection Service (APHIS), which is part of the United States Department of Agriculture. According to the business information disseminated then, it had reached a proportion of porcine protein of up to 26.6% of the total soluble protein in the seeds, four times the initially projected. The new call also intersects with the judicial front open against the executives of Bioceres SA. The Rosario businessman Sergio Airoldi, managing partner of AIR SRL, filed a complaint with the local delegation of the Economic Crime and Money Laundering Prosecutor's Office (Procelac), sponsored by lawyers Froilán Ravena and Renzo Biga. According to Airoldi's account, between April and July 2024, his company invested US$2 million in promissory notes issued by Bioceres SA in the Argentine Securities Market. He claimed to have only received a first maturity of US$250,000 and that there was an outstanding balance of US$1.75 million. 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