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Accentia Biopharmaceuticals, Inc. Message Board

  • amrahp300 amrahp300 Apr 29, 2013 6:31 AM Flag

    Biovest shareholders canceled

    4/25/13 Exhibit B Disclosure Doc, Page 17- "On the effective date, all of the shares class 9 Equity interest shall be deemd cancelled, annulled, extinguished and surrendered without any further action by any party and shall be of no further force and effect." The current shareholders of Biovest "will not receive or retaiin any property or equity interest under the Plan". "Reorganized Biovest will not make any distribution or establish any reserve under the Plan"...

    The only possible way to get anything for your shares is if the Auction on May 30 has bidders above the $54M debt. With the process just now starting with Ferghana as the IB, it is unlikely big pharma can act that quickly.

    Apparantly Accentia is waiting to see what happens as their 80M shares of Biovest also get wiped out.

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