Generex Announces Acquisition of 100% of Hema Diagnostic Systems, Debt Restructuring & Warrant Deal
GENEREX BIOTECHNOLOGY (GNBT)
US:NASDAQ Investor Relations:
generex.com/investor
Company Research
Source: Business Wire
Secures remaining 49% of HDS for $1.00 Debt restructuring erases $13,431,705.66 note Pays off $624,403.64 note with 32,881 shares of Generex common stock at $18.99 per share Delivers 15,000,000 warrants for $37.5 million at conversion with one year execution term MIRAMAR, Fla.--(BUSINESS WIRE)-- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) (“Generex”) is pleased to announce that the company has agreed to terms with Stephen L. Berkman (Mr. Berkman) to acquire the remaining 49% of Hema Diagnostic Systems (HDS). As previously reported, pursuant to a January 18, 2017 Acquisition Agreement among the Company, Hema Diagnostic Systems, LLC (“HDS”), Stephen L. Berkman and the other equity owners of HDS, Generex acquired 51% of the equity interests in HDS, with Mr. Berkman continuing to
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