Genetic Technologies Announces $1.44 Million Registered Direct Offering
Genetic Technologies Ltd - American Depositary Shares (GENE)
US:NASDAQ Investor Relations:
gtgcorporate.com/investor-centre
Company Research
Source: GlobeNewswire
MELBOURNE, Australia, April 20, 2020 (GLOBE NEWSWIRE) -- Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) (the “Company”), a leader in the development of genetic risk assessment tests, today announced that it has entered into definitive agreements with several institutional investors for the purchase and sale in a registered direct offering of 722,502 American Depositary Shares (“ADSs”), each representing six hundred (600) of the Company’s ordinary shares, at a purchase price of $2.00 per ADS. The closing of the offering is expected to occur on or about April 22, 2020, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from this offering are expected to be approximately $1.44 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to support
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