Nadel Receivership - Phoenix Biotechnology Stock Auction
DETAILS
Welcome to the auction of Receiver, Burton W. Wiand. Mr. Wiand has been appointed Receiver in a civil enforcement action, Securities and Exchange Commission v. Arthur Nadel. et al., Case No. 8:09-cv-0087-VMC-CPT in the United States District Court for the Middle District of Florida, Tampa Division (the “Nadel Receivership”). For information regarding this Receivership, please refer to the Receivership’s website, www.nadelreceivership.com.
Pursuant to the Court’s order entered on May 14, 2025., the Receiver is auctioning 143,218 shares of common stock of Phoenix Biotechnology Inc., a San Antonio Texas based biotechnology company. The Receiver obtained these shares from an individual investor who was a participant in the Ponzi scheme at issue in the Nadel Receivership. Phoenix Biotechnology, Inc. was not alleged to be a part of this scheme and there is no evidence that it had any involvement in the scheme.
The shares of this company are not publicly traded and therefore have not been registered under the Securities Act of 1933. Neither the Receiver nor any of the professionals providing services to the Receivership have any involvement in Phoenix Biotechnology other than obtaining possession of these shares through the Receivership asset seizure process and by Court order. For any information regarding Phoenix Biotechnology, you must contact the company directly, refer to its website phoenixbiotechnology.com, or conduct an independent search of publicly available records. The Receiver makes no representations or warranties regarding the status of this company or the value of its shares.
The Receiver will hold this auction October 28, 2025 through November 4th 2025. The shares will be sold in lots of 10,000 with one odd lot of 13,218. This auction is with a reserve and initial bid price of $0.10 per share. Lots are subject to prior sale. If any prospective purchaser would like to make an offer less than this amount, they should contact the receiver directly at Burt@BurtonWWiandPA.com. Approved bidders will be able to bid online only during the auction dates.
This auction is to begin online October 28, 2025, at 11:00 AM EST.
All prospective bidders must request the ability to bid in this auction in advance through the login/registration link on this web page. Approval is given upon fulfilling the bidding requirements, which include a $10.00 participation fee. Please refer to the Terms and Documents sections for this auction for more information.
If you have any questions about this upcoming auction, please email Simi@receivership-auctions.com.
Helpful Reminders:
- Please make sure that email correspondence from Receivership-Auctions.com is not being sent to a “spam” or “junk” folder. Receivership-Auctions.com will provide updates and information to the email address used for registration as the auction progresses.
- To be approved to enter the auction and bid on any lots, participants are required to agree to the participation terms and a $10.00 fee on a credit card. Participants WILL NOT be allowed to bid until these requirements have been met.
- All documents governing this auction, including the Stock Purchase Agreement, are located in the Documents section of this web page.
- If you are the winner of a lot in the auction, DO NOT MAKE ANY PAYMENTS THROUGH RECEIVERSHIP-AUCTIONS.COM, be sure to follow the steps referenced in the Participation Terms to ensure your timely payment.
- Any Agents must have their Buyer's register on Receivership-Auctions.com as the person who agrees to the terms to purchase the shares if they are the winning bidder.
- All bidders are required to make a 10% deposit after the auction per the term agreements attached in Documents.
- An additional 5% buyer’s premium will be added to all winning bids.
- Neither the Receiver nor Receivership-Auctions.com make any representations or warrants regarding the shares at auction. It is the Buyer’s sole responsibility to conduct appropriate due diligence.
