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 date 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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