Health and Healthcare
Generex Biotech Holders File To Unload (GNBT)
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Generex Biotechnology Company (NASDAQ: GNBT), a drugdelivery system and technology developer, has filed an offering by sellingstockholders of up to 74,475,861 shares of common stock. The proposed maximum aggregateoffering price is $78,199,653, but this number is for filing purposes.
The offering consists of up to 22,527,275 shares of commonstock issuable upon conversions of a $20,650,000 principal amount of 8% SecuredConvertible Notes due September 2009, and up to 51,198,347 shares of commonstock issuable upon the exercise of warrants.
The company itself will not receive any proceeds fromthe offering.
Generex is up almost 1% to $1.07 in early morning trading.The market cap sits at $119.3 million and the 52-week range is $0.81 to $2.14.
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Rachel Lopez
May 1, 2008
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