ADMA Biologics (ADMA +10.2%) announces that it has negotiated the receipt and retirement of ~8.6M shares of its non-voting common stock previously issued to Biotest Pharmaceuticals (BPC) for its Therapy Business Unit (12.9M total ADMA shares issued).
Under the terms of the deal, BPC will waive its rights to name a director and observer to the ADMA board while ADMA will release BPC of any and all indemnification claims associated with the January 2017 Master Purchase Agreement and waive it rights to repurchase the two ADMA BioCenters in Georgia.
The action reduces the number of outstanding shares of ADMA to 36.7M.
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