Accentia Biopharmaceuticals, Inc.(fka ABPI)

[dix]

Documents submitted to the Tampa Bankruptcy Court today, 10/11. for consideration tommorrow are mostly related to the terms of exit financing for Biovest.Accentia states it will need no recourse to exit financing and petitions the Court to waive that requirement of its POR.
Up to $8mil loan to Biovest payable in full 2 years after financing is granted. 7% per annum interest payable monthy in cash, shares or combination. The conditions and terms for the possibility of returning the principal in shares is defined as are penalties for non performance.
There are other items related to accelerated payments of principal, the fees to Roth Capital, 90 day lockout of certain heavily invested parties and the boiler plate regarding this financing being in the best interests of all concerned.

I went through the documents hastily but it looks like ABPIQ/BVTI want this cleared this month with the final order in November.

Hopfully, in short order, we will be shareholders of a small solvent biotech company(s) with very interesting products and an extremely bright future.

Good fortune to us all,

Ten

edit: http://www.srbp.com/