The above information was disclosed in a filing to the SEC. Some additional info was provided as follows:
The Reporting Person sold these shares in a private placement to a third party in exchange for a minority interest in a privately-held investment company. The value placed on the shares in this transaction was $4.04 per share (the closing price per share on NASDAQ on the date of the transaction). As of the dat
e of the sale, the Reporting Person does not have any investment control over these shares. However, Mr. Collins retains all voting rights in these shares for a period of six months following the transaction.
To see this filing in its entirety, click here. Pernix Therapeutics Holdings next reports earnings on August 12, 2013.
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