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Nabi Biopharmaceuticals announces waiver of cash reserve tender offer condition

Nabi Biopharmaceuticals announced in connection with its previously announced tender offer, that it is waiving the following condition to the tender offer: that no event or circumstances exist that would be reasonably likely to cause the company to determine that it will not have a net closing cash balance in excess of $54M immediately prior to the completion of the proposed transaction between the company and Biota Holdings. As previously disclosed, under the merger implementation agreement with Biota, the company is required to have a net closing cash balance of at least $54M at the closing of the transaction.