Unassociated Document
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
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SCHEDULE
14A
(Rule
14a-101)
SCHEDULE
14A INFORMATION
Proxy
Statement Pursuant to Section 14(a) of the Securities
Exchange
Act of 1934
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Filed by
the Registrant ý
Check the
appropriate box:
¨ Preliminary
Proxy Statement
¨ Confidential, For use of the
Commission only (as permitted by
Rule 14a-6(e)(2))
¨ Definitive
Proxy Statement
ý Definitive
Additional Materials
¨ Soliciting
Material Pursuant to §240.14a-12
GENEREX BIOTECHNOLOGY
CORPORATION
(Name of
Registrant as Specified In Its Charter)
Payment
of Filing Fee (Check the appropriate box):
ý No
fee required.
¨ Fee
computed on table below per Exchange Act Rules 14a-6(i)(1) and
0-11.
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1)
2)
3)
4)
5)
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Title
of each class of securities to which transaction applies:
Aggregate
number of securities to which transaction applies:
Per
unit price or other underlying value of transaction computed pursuant to
Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is
calculated and state how it was determined):
Proposed
maximum aggregate value of transaction:
Total
fee paid:
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¨ Fee
paid previously with preliminary materials.
¨
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Check
box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration
statement number, or the Form or Schedule and the date of its
filing.
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1) Amount
Previously Paid:
2) Form,
Schedule or Registration Statement No.:
3) Filing
Party:
4) Date
Filed:
EXPLANATORY
NOTE
On October 14, 2010, Generex
Biotechnology Corporation released the following press release in connection
with its solicitation of proxies for its Special Meeting of stockholders to be
reconvened on October 15, 2010:
Internet
and Telephone Voting for Generex Shareholders Ends at 11:59PM October 14,
2010.
All
Shareholders Are Urged to Cast Their Votes Prior to This Deadline.
WORCESTER,
MA, October 14, 2010 (PRNewswire) - Generex Biotechnology Corporation (NasdaqCM:
GNBT) (www.generex.com)
today confirmed that shareholders may vote to approve management’s proposal to
conduct a reverse stock split over the Internet and by telephone prior to 11:59
p.m., Eastern Time, on October 14, 2010. All shareholders of
record as of August 17, 2010 are entitled to participate and are urged to vote
on the matter at the special meeting to be held on Friday, October 15, 2010
at 10:00 a.m. (local time), at the Meeting Rooms, Westin Harbour Castle Hotel, 1
Harbour Square, Toronto, Ontario Canada M5J 1A6.
Shareholders
of record who have voted and wish to change their votes may do so at any time
before the polls close at the meeting. Shareholders may change their
votes by:
·
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Voting
again over the Internet or by telephone prior to 11:59 p.m., Eastern Time,
on October 14, 2010.
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·
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Voting
at the meeting if you are the stockholder of
record.
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·
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Voting
at the meeting if you are the beneficial owner and have obtained a legal
proxy from your bank or broker.
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Shareholders
are urged to vote and to submit their proxy over the Internet and by
telephone in accordance with the instructions included in the proxy
materials that were mailed to shareholders.
Shareholders
who hold Generex shares in “street name” should have received instructions from
their bank, broker or other nominee describing how to vote their
shares. Certain of these institutions offer telephone and Internet
voting. Please refer to the information forwarded by your bank,
broker or other nominee to see which options are available to you.
Management,
who strongly supports the proposal, believes that a reverse stock split will put
Generex in a stronger position to aggressively pursue commercialization
opportunities for its buccal drug delivery and immunotherapeutic vaccine
platform technologies following regulatory approval. Based on the current
price of the stock, it is
anticipated that the reverse stock split ratio would not exceed
1-for-4.
If the
reverse stock split is not approved, Generex's common stock will not remain
listed for trading on the NASDAQ Capital Market. While the stock would
then be eligible for quotation on the Over-The-Counter (OTC) Bulletin Board
(OTCBB), management believes that a Nasdaq listing will afford Generex a wider
variety of potentially less dilutive financing alternatives. As a
development stage company, Generex must look to the capital markets to fund its
on-going product development initiatives. In addition, the greater
visibility and liquidity offered by a Nasdaq listing may enhance Generex's
bargaining power with prospective partners and collaborators who will want
comfort that Generex will have access to the capital necessary to support it
contributions.
Questions
Should
stockholders have any questions regarding the proxy voting procedures (including
changing previously cast votes), please contact Legend Securities, Inc. by
telephone at 877-317-7526 or via email at gnbtproxy@legendsecurities.com
for US residents. Non-US residents should contact Generex directly at
800-391-6755 or contact their broker/dealer.
About
Generex Biotechnology Corporation
Generex
is engaged in the research, development, and commercialization of drug delivery
systems and technologies. Generex has developed a proprietary
platform technology for the delivery of drugs into the human body through the
oral cavity (with no deposit in the lungs). Generex's proprietary
liquid formulations allow drugs typically administered by injection to be
absorbed into the body by the lining of the inner mouth using Generex's
proprietary RapidMist™ device. Generex's buccal insulin spray product
(Generex Oral-lyn™), which has been approved in India, Lebanon, Algeria, and
Ecuador for the treatment of subjects with Type-1 and Type-2 diabetes, is in
Phase III clinical trials at several sites around the world. Antigen Express,
Inc. is a wholly owned subsidiary of Generex. The core platform
technologies of Antigen Express comprise immunotherapeutic vaccines for the
treatment of malignant, infectious, allergic, and autoimmune
diseases. For more information, visit the Generex website at www.generex.com or
the Antigen Express website at www.antigenexpress.com. Information contained in, or
accessible through, the websites of Generex or Antigen Express is not
incorporated herein and is not a part of the proxy soliciting
material.
Safe
Harbor Statement
This
release and oral statements made from time to time by Generex representatives in
respect of the same subject matter may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform
Act of 1995. These statements can be identified by
introductory words such as “expects,” “plans,” “intends,” “believes,” “will,”
“estimates,” “forecasts,” “projects,” or words of similar meaning, and by the
fact that they do not relate strictly to historical or current
facts. Forward-looking statements frequently are used in discussing
potential product applications, potential collaborations, product development
activities, clinical studies, regulatory submissions and approvals, and similar
operating matters. Many factors may cause actual results to differ from
forward-looking statements, including inaccurate assumptions and a broad variety
of risks and uncertainties, some of which are known and others of which are
not. Such risks and uncertainties include the risks that: Generex
will not obtain the stockholder approval of the reverse stock split; and the
reverse stock split, if implemented, will fail to have the desired effect of
sufficiently raising the common stock price to meet The NASDAQ Capital Market's
$1.00 minimum bid price requirement for continued listing of Generex’s
stock. Known risks and uncertainties also include those identified
from time to time in the reports filed by Generex with the Securities and
Exchange Commission, which should be considered together with any
forward-looking statement. No forward-looking statement is a
guarantee of future results or events, and one should avoid placing undue
reliance on such statements. Generex undertakes no obligation to
update publicly any forward-looking statements, whether as a result of new
information, future events or otherwise. Generex cannot be sure when
or if it will be permitted by regulatory agencies to undertake additional
clinical trials or to commence any particular phase of clinical
trials. Because of this, statements regarding the expected timing of
clinical trials or ultimate regulatory approval cannot be regarded as actual
predictions of when Generex will obtain regulatory approval for any “phase” of
clinical trials or when it will obtain ultimate regulatory approval by a
particular regulatory agency. Generex claims the protection of the
safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform
Act.