Genetic Technologies Announces $2 Million Registered Direct Offering
MELBOURNE, Australia, April 19, 2024 (GLOBE NEWSWIRE) — Genetic Technologies Limited (ASX:GTG; NASDAQ:GENE, “Company”, “GTG”, or “Genetic Technologies”), a global leader in guideline-driven genomics-based tests in health, wellness and serious diseases, today announced that it has entered into a definitive agreement for the purchase and sale in a registered direct offering of 1,000,000 American Depositary Shares (“ADSs”) (or ADS equivalents in lieu thereof), each representing thirty (30) ordinary shares of the Company, at a purchase price of $2.00 per ADS. In addition, in a concurrent private placement, the Company will issue unregistered warrants (“Warrants”) to purchase up to 1,000,000 ADSs. The Warrants will have an exercise price of $2.00 per ADS, will be exercisable upon issuance, and will expire five years following issuance. The closing of the offering is expected to occur on or about April 22, 2024, subject to the satisfaction of customary closing conditions.