Generex Biotechnology Company (NASDAQ: GNBT), a drug delivery system and technology developer, has filed an offering by selling stockholders of up to 74,475,861 shares of common stock. The proposed maximum aggregate offering price is $78,199,653, but this number is for filing purposes. The offering consists of up to 22,527,275 shares of common stock issuable upon conversions of a $20,650,000 principal amount of 8% Secured Convertible Notes due September 2009, and up to 51,198,347 shares of common stock issuable upon the exercise of warrants.

The company itself will not receive any proceeds from the offering. Generex is up almost 1% to $1.07 in early morning trading. The market cap sits at $119.3 million and the 52-week range is $0.81 to $2.14.

Rachel Lopez May 1, 2008

Highlights: generex-biotech, Generex Biotech, Generex Biotechnology