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November 7, 2011

Accentia has $10 million deal to sell Analytica

Filed under: Other Regional News — admin @ 3:43 pm

TAMPA, FL - Accentia Biopharmaceuticals Inc. agreed to sell the assets of its Analytica International Inc. business unit for up to $10 million to LA-SER Alpha Group Sarl.

The sale is part of a series of deals Accentia plans to strengthen its financial position, improve its balance sheet and support ongoing biotech development plans, a company statement said.

Analytica is a health care economics consulting firm that Accentia does not consider critical to its ongoing biotech development activities, the statement said. The $10 million maximum sale price is made up of both fixed and contingent payments, a filing with the U.S. Securities and Exchange Commission said.

Accentia (OTCQB: ABPI), headquartered in Tampa, plans to use some of the proceeds of the sale to prepay $4 million in principal to its senior secured lender, identified in the SEC filing as Laurus Master Fund Ltd. and associated entities. Accentia also will obtain a one-year extension of all remaining principal and interest from the lender.

The closing is expected to occur by year-end.

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