Navigation Links
Generex Plans Rights Offering Upon Approval of Reverse Stock Split and Listing on a National Stock Exchange
Date:3/30/2011

WORCESTER, Mass. and TORONTO, March 30, 2011 /PRNewswire/ -- Generex Biotechnology Corporation (www.generex.com) (OTC Bulletin Board: GNBT) today announced that it plans to initiate a rights offering of common stock and warrants to its stockholders in the event it receives approval for a reverse stock split at the next Annual Meeting of the Company's stockholders scheduled for Wednesday, June 8, 2011 and the Company's common stock is listed for trading on a national stock exchange.  The amount of the offering has not been determined and will be subject to prevailing market conditions. Certain warrant holders will also have the right to participate in the offering.  

(Logo: https://photos.prnewswire.com/prnh/20110106/NY25057LOGO-b)

Generex will file a registration statement with the Securities and Exchange Commission forthwith following stockholder approval of a reverse stock split and approval of Generex's application for listing on a national stock exchange contingent only upon Generex meeting the minimum share price requirement of such exchange.  Generex expects the commencement of the offering and the distribution of rights to occur promptly following a national stock exchange listing and effectiveness of the registration statement.  The record date for the distribution of the rights and the dates for both the subscription period and the expiration of the rights offering will be included in the final prospectus.  

Under the proposed terms of the rights offering, Generex will distribute one right to each holder of record of every share of its common stock that is held on the record date.  Each transferable right will entitle the holder to purchase one unit at a subscription price to be determined prior to the effective date of the registration statement.  Each unit will consist of one share of common stock and two warrants to purchase additional shares of common stock.  Generex expects to use the proceeds from the rights offering primarily to fund its on-going research and development and product commercialization initiatives and the acquisition of Global Medical Direct, LLC.

This press release does not constitute an offer of any securities for sale or a solicitation of an offer to buy any securities.

Forward-Looking Statements

This press release includes statements about future economic performance, finances, expectations, plans and prospects of Generex that constitute forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  These statements are based on Generex's current plans, estimates and expectations.  Some forward-looking statements may be identified by use of terms such as "anticipate," "expect," "plan," "may," "should," "could," "will," "would," "estimate," and similar words, terms or statements of a future or forward-looking nature.  Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by such statements.  Risks and uncertainties relating to the proposed offering include the risks that: (1) Generex will not obtain the stockholder approval of the reverse stock split; (2) Generex will not meet the standards for listing its common stock on a national stock exchange; and (3) the anticipated benefits of the right offering will not be realized.   No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements.  Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.


'/>"/>
SOURCE Generex Biotechnology Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Generex Biotechnology Corporation Initiation Coverage Review Issued By Scimitar Equity, LLC
2. Generex Announces Distribution Agreement for Generex Oral-lyn™ in Chile
3. Generex Announces Presentations of Novel Vaccine Strategies
4. Generex Announces Approval of Adjournment Proposal and Adjourned Special Meeting Date
5. Generex Announces Sales Agreement with Elias Shaker & Company
6. Generex Presents Abstract at EASD Annual Meeting
7. Generex Awarded a New Patent in Canada for its Proprietary Buccal Drug Delivery System
8. Generex Biotechnology Provides a Corporate Update to Address Managements Strategic Initiatives for Growth
9. Generex Reaches Agreement to Acquire 51% Stake in Global Medical Direct, a Nationwide Durable Medical Equipment and Pharmaceutical Provider Specializing in Direct-to-Consumer Diabetes Supplies
10. Generex Provides Clarification for Special Meeting Voting
11. Generex Announces That Adjournment Will be Sole Matter Considered at Reconvened Special Meeting of Stockholders on October 15, 2010
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/6/2016)... Calif. , Dec. 6, 2016 /PRNewswire/ ... held, clinical-stage medical dermatology and aesthetics company, ... a privately held specialty pharmaceutical company focused ... inflammatory skin conditions, including psoriasis, atopic dermatitis ... the agreement, Sienna will make an undisclosed ...
(Date:12/6/2016)... Mass. , Dec. 6, 2016  Blueprint Medicines ... discovering and developing targeted kinase medicines for patients with ... an underwritten public offering of $125,000,000 million in shares ... to grant the underwriters a 30-day option to purchase ... of its common stock in connection with the public ...
(Date:12/6/2016)... Dec. 6, 2016  In response to the tragic ... every 25 minutes, a respected group of local and ... provide a holistic suite of services to help Medicaid-eligible ... on his own experience trying to help family and ... Justin Lanning launched 180 Health Partners ...
Breaking Medicine Technology:
(Date:12/7/2016)... ... , ... “Fred Rides a Train” allows readers to tag along on a ... a Train” is the creation of published author, Janet Morrison, who has been writing ... The "Fred, the Dog" series is her first attempt at writing for children. Janet, ...
(Date:12/7/2016)... San Mateo, CA (PRWEB) , ... December 07, 2016 , ... ... entire San Francisco Peninsula region, is proud to announce new city-specific pages as part ... care services for the elderly, they often look, first, for local agencies serving their ...
(Date:12/6/2016)... , ... December 06, 2016 , ... ... dysfunction because of a higher risk of serious health problems, such as cardiovascular ... Star2.com. Dr. Peiman Soleymani of Beverly Hills Periodontics & Dental Implant Center notes ...
(Date:12/6/2016)... California (PRWEB) , ... December 06, 2016 , ... ... management (PHM) technology, has named Ajdin Camaga as a vice president of sales. ... says Justin Neece, president. “He works hard to understand what each client needs, ...
(Date:12/6/2016)... ... December 06, 2016 , ... In anticipation for the New ... the availability of continuing education courses in 2017, dentists of all levels can continue ... Beginning in January, dentists can attend a variety of continuing education courses each month ...
Breaking Medicine News(10 mins):