NUGENEREX IMMUNO-ONCOLOGY, INC.: M&A transaction — Beijing Youfeng acquires 64% of NuGenerex for $3.35M in bankruptcy; new board and CEO appointed

NUGENEREX IMMUNO-ONCOLOGY, INC.

Beijing Youfeng Biological Technology acquired 64,153,151 common shares (63.96%) and 100% of Series A Super Voting Preferred on March 3, 2023 for $3.35 million.
Control assumed from Chapter 7 Trustee Marc P. Barmat of Generex Biotechnology's bankruptcy estate.
On March 15, 2023, majority shareholder elected new directors: XiaoYan Wang, Feng Wang, and Kevin McGovern via written consent.
New board on March 21, 2023 removed all officers except Dr. Eric von Hofe; appointed Feng Wang as CEO, Secretary, Treasurer; von Hofe as President and CSO.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

NUGENEREX IMMUNO-ONCOLOGY, INC. underwent a change of control involving Beijing Youfeng Biological Technology Co., Ltd. for $3.35 million (closed 2023-03-03).

Action: change of control
Counterparty: Beijing Youfeng Biological Technology Co., Ltd.
Consideration: $3.35 million
Closing: 2023-03-03

Exact text from the filing

District of Florida, Fort Lauderdale Division on February 7, 2023, Beijing Youfeng Biological Technology Co., Ltd. and the Chapter 7 Trustee allocate the purchase price of $3.35 million for the equity and assigned claims of Generex Biotechnology Corporation such as they agree. (5) the source(s) of funds used by the person(s); and (6) the identity of the

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.7

NUGENEREX IMMUNO-ONCOLOGY, INC. shareholders approved Election of directors by written consent of majority shareholder at the 2023-03-15 meeting.

Proposal: director election
Outcome: passed
Meeting: 2023-03-15

Exact text from the filing

XiaoYan (Maggie) Wang, Feng (Anthony) Wang and Kevin McGovern were elected as the new directors of NGIO without a meeting, through the written consent of the majority shareholder dated March 15, 2023

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Source: SEC EDGAR

accession 0001804585-23-000007

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