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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 4, 2000
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Generex Biotechnology Corporation
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(Exact name of registrant as specified in its charter)
Delaware 000-25169 82-049021
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(State or other jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
33 Harbor Square, Suite 202, Toronto, Ontario Canada M5J 2G2
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 416/364-2551
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(Former name or former address, if changed since last report)
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By this amendment, we hereby update the description that was contained
in Item 5 of the Form 8-K that we filed with the Commission on October 16, 2000.
The following description restates Item 5 in its entirety.
Item 5. Other Events.
On October 4, 2000, we completed the sale of 2,151,093 units of
securities ("Units") for cash at a price of $11.00 per Unit. Each Unit consisted
of a share of Common Stock and a warrant to purchase .15 shares of Common Stock
at an initial exercise price of $13.20 per share. The purchasers of the Units
were:
<TABLE>
<CAPTION>
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Purchaser Units Purchased Consideration ($)
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<S> <C> <C>
Smallcap World Fund Inc. 1,079,000 $11,869,000
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Protius Overseas Limited 163,636 $ 1,800,000
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Montrose Investments Ltd. 136,364 $ 1,500,000
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Ram Trading Ltd. 125,000 $ 1,375,000
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Nob Hill Capital Partners, L.P. 100,000 $ 1,100,000
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Castle Creek Healthcare Partners LLC 90,910 $ 1,000,010
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AEOW 2000 L.P. 68,182 $ 750,002
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Kodiak Opportunity Offshore Ltd. 49,590 $ 545,490
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Fidelity National Title Insurance Co. 45,455 $ 500,005
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Velocity Investment Partners LTD 45,455 $ 500,005
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Prism Partners 1, L.P. 40,800 $ 448,800
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Kodiak Opportunity, L.P. 33,520 $ 368,720
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Willow Creek Capital Partners, Ltd. 25,000 $ 275,000
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Willow Creek Offshore Fund 25,000 $ 275,000
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CCL Fund LLC 22,728 $ 250,008
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Prism Partners II Offshore Fund 20,400 $ 224,400
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Nob Hill Capital Associates L.P. 20,000 $ 220,000
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Kodiak Opportunity 3C7, L.P. 16,890 $ 185,790
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Ascend Partners L.P. 13,637 $ 150,007
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Bognor Regis, Inc. 13,636 $ 150,000
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Ascend Offshore Funds Ltd. 9,090 $ 99,990
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Prism Partners Offshore Fund 6,800 $ 74,800
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</TABLE>
The above figures do not include an additional 68,800 Units that
Smallcap World Fund, Inc. ("Smallcap") had the right to purchase pursuant to an
option contained in its securities purchase agreement. The option authorized
Smallcap to purchase 6.5% of the number of Units purchased by all investors
other than Smallcap. This option expired on October 18, 2000 without being
exercised by Smallcap.
The Shemano Group, Inc. ("Shemano"), a broker-dealer, has received or
will be receiving compensation for its services in connection with this
placement, including cash compensation of approximately 7% of total placement
proceeds and warrants to purchase a total of approximately 10% of total number
of shares included in the Units sold.
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Shemano has advised us that it intends to assign its warrants to two of
its officers, Gary J. Shemano and William Corbett. The Shemano warrants are
identical to the warrants issued to investors.
The Units were sold without registration under the Securities Act of
1933 in reliance upon the exemption from registration provided in Section 4(2)
thereof and Rule 506, Regulation D promulgated thereunder. No general
solicitation was made in connection with the placement. All securities sold were
acquired for investment, and appropriate restrictions have been placed upon the
resale of any of the securities acquired in the placement, including restrictive
legends on the face of the securities and stop orders on our stock and warrant
registers.
The warrants issued to the placement investors and Shemano expire on
September 29, 2005, and contain anti-dilution and other terms that are commonly
found in such securities. A form of the warrants issued has been filed as an
exhibit with this Report.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENEREX BIOTECHNOLOGY CORPORATION
Dated: December 6, 2000 By: /s/ E. Mark Perri
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E. Mark Perri
Chairman of the Board
Chief Financial Officer
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