Long Term Investment, Biotech & High Yield Dividend Stocks

[califax]

Generex Biotech to Issue Common Stock on June 15,2009

http://research.scottrade.com/public/markets/news/news.asp?section=headlines&docKey=100-164c9118-1

Generex Biotechnology (NASDAQ:GNBT), a biotech company focusing on drug delivery for metabolic diseases through the inner lining of the mouth, announced that it intends to sell up to 17.2 million shares of its common stock to accredited investors on Monday, June 15, 2009. The company is offering the stock at $0.6389 per share for roughly $11 million in total proceeds. The company will also provide 50% warrant coverage, exercisable beginning 183 days following the closing date for a period ending on the fifth anniversary of the initial exercise date, with an exercise price of $0.76 per share.