From the CC: Steve Fraser: I know. I don’t t
Post# of 36498
Steve Fraser: I know. I don’t think people ask enough questions, and I want you to be able to get your word out there. So if you don’t mind, I’ve got two more questions. One, NuGenerex Immuno-oncology rights offering that was talked about in the past. Today’s announcement, obviously, was one dividend share for every four shares of Generex that you have. Is there going to be a rights offering coming out as well that you can explain about now? Or is that something you still need to wait on?
Joe Moscato: We’re right now talking to investment banks. I was at J.P. Morgan last week, and we specifically talked to a few of the investment banks for a rights offering for our Generex shareholders. It’s being contemplated now, and it’s highly likely that we will put together a rights offering for our shareholders once the company is public, as well as the dividend is distributed. So we’re working on that. I’d like to give one to the shareholders, give them the opportunity to become more significant holders of antigen Express.
I should say NuGenerex Immuno-oncology, formerly Antigen Express. But right now, we have a bunch more work to do before I can definitively say we’ll be doing that.
Investor Call 01-16-2019
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Steve Fraser: Okay. As it stands right now, then, you’re spinning off 25% of the old Antigen Express to shareholders. I know you had mentioned in your press release that NuGenerex will want to hold a majority stake. What do you guys consider a majority stake, after all is said and done? Are you going to hold just 51%? Are you going to try to hold 60%? Do you have a ballpark?
Joe Moscato: I don’t know where you came up with we’re going to be giving any 25%. That’s just not true. It’ll be less than 10% we’ll be dividening out to Generex shareholders.
Steve Fraser: I just took it from one share for every four shares. I just took that as 25%.
Joe Moscato: No. Generex, from the dividends that we did, with our existing shareholder base, not counting the pooled shares or anything that’s been given out--well, there’s nothing been given out. But it’s 26 million shares altogether, approximately. So out of that 26 million shares, it’s four for one, so you can do the math from there.
Steve Fraser: Okay. So it’s not on the 60 million shares. It’s not on the shares that you guys donated back to the company. It’s on the, for all intents and purposes, I don’t want to say slowed, but it’s the shares that are out there in investors’ hands.
Joe Moscato: Correct. The pooled shares or the four individuals that contributed all of their dividends for the benefit of Generex will not receive that dividend.
Steve Fraser: Oh, that’s even better yet, Joe. I’m very impressed that you guys are willing to do that. So that’s very nice. I do appreciate that on my behalf. Regarding the--I’m not going to say this right, but Olaregen and Regentis purchases, I know you sealed them with stock. Their initial purchases, you sealed them with stock just a couple weeks ago. Were those also done with--obviously, they were done with stock that you guys had donated, but it was also done at $2.50 a share? Or was it at the share price at the time, which was like $1.65