Bookrunner Maxim raises proceeds for general working capital purposes
By Devika Patel
Knoxville, Tenn., March 10 – Genetic Technologies Ltd. said it priced a $14.5 million public sale of American Depositary Shares.
The company will sell 3,333,333 ADSs at $4.3488 per ADS. The price per ADS reflects a 4.84% discount to the March 9 closing share price of $4.57.
Each ADS represents 150 ordinary shares.
Maxim Group LLC is the bookrunner.
Proceeds will be used for general working capital purposes, including the expansion of U.S. operations and possible acquisitions of other complementary technologies and tests.
Genetic Technologies is a Fitzroy, Australia, life sciences company.
| Issuer: | Genetic Technologies Ltd.
|
| Issue: | American Depositary Shares
|
| Amount: | $14,495,999
|
| Shares: | 3,333,333
|
| Price: | $4.3488
|
| Warrants: | No
|
| Bookrunner: | Maxim Group LLC
|
| Pricing date: | March 10
|
| Stock symbol: | Nasdaq: GENE
|
| Stock price: | $4.57 at close March 9
|
| Market capitalization: | $21.08 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
