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Posted On: 01/03/2019 9:08:55 AM
Post# of 36568
Interesting info from the CEO in that press release:
I am pleased to announce that Generex has signed a term sheet for a $15 million equity line to make our obligatory payments to fund the manufacturing and commercial launch of Excellagen, and to ultimately close the full acquisition of Olaregen. The equity line, once complete, will also be available to fund the clinical development of Regentys Extra-Cellular Matrix Hydrogel (ECMH) that will culminate in FDA submission and approval. The equity line enables Generex to manage its financials by making payments to our subsidiaries based on value-driven milestones rather than through immediate shareholder dilution. We plan to provide details of this equity financing agreement in the coming days as we finalize the closing documents and receive Generex board approval on the full transaction". Mr. Moscato continued, “The closing documents for Regentys are complete and in attorney review, and that closing should take place in the coming days, followed shortly thereafter by Olagregen. In addition, we will be announcing plans to add two new acquisitions to the NuGenerex family of companies that will add significant revenues to NuGenerex Distribution Solutions.”
I am pleased to announce that Generex has signed a term sheet for a $15 million equity line to make our obligatory payments to fund the manufacturing and commercial launch of Excellagen, and to ultimately close the full acquisition of Olaregen. The equity line, once complete, will also be available to fund the clinical development of Regentys Extra-Cellular Matrix Hydrogel (ECMH) that will culminate in FDA submission and approval. The equity line enables Generex to manage its financials by making payments to our subsidiaries based on value-driven milestones rather than through immediate shareholder dilution. We plan to provide details of this equity financing agreement in the coming days as we finalize the closing documents and receive Generex board approval on the full transaction". Mr. Moscato continued, “The closing documents for Regentys are complete and in attorney review, and that closing should take place in the coming days, followed shortly thereafter by Olagregen. In addition, we will be announcing plans to add two new acquisitions to the NuGenerex family of companies that will add significant revenues to NuGenerex Distribution Solutions.”
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