SEC Filing:Accentia Biopharmaceuticals Closes on $400K Offering

Posted February 3, 2012

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On January 27, 2012, Accentia Biopharmaceuticals, Inc. sold 1,173,021 units, with each Unit consisting of one share of the Company's common stock, par value $0.001 per share, and a warrant to purchase one-half of one share of the Company's common stock, to REF Holdings, LLC for an aggregate purchase price of $400,000 (or $0.341 per Unit). This sale was made pursuant to a Subscription Agreement, dated January 27, 2012, between the Company and the Investor.

Under the terms of the Subscription Agreement, the Company has agreed to use its best efforts to file, within thirty (30) calendar days following the closing of the purchase, a resale registration statement covering the shares of common stock underlying the Units and the shares of common stock issuable upon exercise of the warrants underlying the Units.

The exercise of the warrants underlying the Units is governed by the terms and conditions set forth in the Common Stock Purchase Warrant issued by the Company to the Investor on January 27, 2012. The Warrant gives the Investor the right to purchase up to 586,511 shares of the Company's common stock at an exercise price of $0.40 per share (subject to adjustment for stock splits, stock dividends, certain other distributions, and the like). The Warrant is immediately exercisable and will expire on January 27, 2017.

The foregoing does not purport to be a complete description of the Subscription Agreement or the Warrant, and is qualified in its entirety by reference to the full text of such documents, which are attached hereto as exhibits to this Current Report on Form 8-K.

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Accentia Biopharmaceuticals, Inc.