This letter agreement sets forth our agreement and understanding as to the essential terms of the sale to Generex Biotechnology Corporation, Delaware corporation (or an affiliate thereof) (the Purchaser) by Regentys Corporation, A Florida corporation (the Corporation) of equity securities in the capital of the Corporation equal to fifty-one percent (51%) of the authorized and issued equity securities in the capital of the Corporation on a post-closing basis (the Transaction).
The parties intend this letter agreement to be binding and enforceable, and that it will inure to the benefit of the parties and their respective successors and assigns. 1. Purchased Shares. On the terms and subject to the fulfilment of the conditions hereof, on the Closing Date (as that term is hereinafter defined) the Corporation will sell to the Purchaser, and the Purchaser will purchase and accept from the Corporation, an aggregate of common shares in the capital of the Corporation equal to no less than fifty-one percent (51%) of the issued and outstanding equity securities in the capital of the Corporation on a post-closing basis (the Purchased Shares). 2. Purchase Price. The price payable by the Purchaser to the Corporation for the Purchased Shares will be $1.25 per share for an aggregate sum of Fifteen Million Dollars ($15,000,000) (the Purchase Price). 1 …
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Source: US SEC
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