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Posted On: 08/16/2019 12:38:15 PM
Post# of 36564
Seeking Alpha:
Generex advancing spinout of I-O business; shares down 7%
Aug. 16, 2019 12:05 PM ET|About: Generex Biotechnology ... (GNBT)|By: Douglas W. House, SA News Editor
Generex Biotechnology (OTCQB:GNBT -7.3%) announces that it has identified (but does not disclose) a public development-stage company that will serve as the vehicle (appears to be a reverse merger) for the spinout of subsidiary NuGenerex Immuno-Oncology (NGIO) as a standalone organization. It is in "final negotiations" with the unnamed firm to retain the controlling interest. Contracts and regulatory filings should be completed in the coming weeks.
Generex and shareholders who received the 1:4 NGIO dividend will initially own all of the NGIO shares following the acquisition ahead of the planned merger with Kiromic.
On another note, the Generex has agreed to acquire the remaining 38% of Olaragen Therapeutix that it does own for GNBT stock at $2.50 per share.
Generex advancing spinout of I-O business; shares down 7%
Aug. 16, 2019 12:05 PM ET|About: Generex Biotechnology ... (GNBT)|By: Douglas W. House, SA News Editor
Generex Biotechnology (OTCQB:GNBT -7.3%) announces that it has identified (but does not disclose) a public development-stage company that will serve as the vehicle (appears to be a reverse merger) for the spinout of subsidiary NuGenerex Immuno-Oncology (NGIO) as a standalone organization. It is in "final negotiations" with the unnamed firm to retain the controlling interest. Contracts and regulatory filings should be completed in the coming weeks.
Generex and shareholders who received the 1:4 NGIO dividend will initially own all of the NGIO shares following the acquisition ahead of the planned merger with Kiromic.
On another note, the Generex has agreed to acquire the remaining 38% of Olaragen Therapeutix that it does own for GNBT stock at $2.50 per share.
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