The November 2018 never mentioned a stock deal. It
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Posted On: 03/29/2019 11:07:18 AM
Re: OrlandoJohn #3125
The November 2018 never mentioned a stock deal. It only mentioned a promissory note of $35 million due January 15 2019. Until today, it was never clear how the promissory note was to be addressed.
From today's PR:
"The acquisition of selected Veneto Group assets is now complete. With this transaction, Generex, with the support of the Veneto Board, has renegotiated the purchase price to $21 million in an all-stock transaction at $2.50 per share, which equates to 8.4 million shares of GNBT Common Stock that will be paid from the dividend share pool [*See Note] to satisfy the obligations of Generex."
This is significant to me. Acquisition of Veneto Group is complete. It's an all stock deal at $2.50.
This gives me confidence that everyone at NuGenerex is highly motivated to get GNBT to $2.50.
November PR
https://storage.googleapis.com/wzukusers/user...202018.pdf
From today's PR:
"The acquisition of selected Veneto Group assets is now complete. With this transaction, Generex, with the support of the Veneto Board, has renegotiated the purchase price to $21 million in an all-stock transaction at $2.50 per share, which equates to 8.4 million shares of GNBT Common Stock that will be paid from the dividend share pool [*See Note] to satisfy the obligations of Generex."
This is significant to me. Acquisition of Veneto Group is complete. It's an all stock deal at $2.50.
This gives me confidence that everyone at NuGenerex is highly motivated to get GNBT to $2.50.
November PR
https://storage.googleapis.com/wzukusers/user...202018.pdf
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