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Stock impact report

Genetic Technologies Announces Pricing of $8.0 Million Public Offering

Genetic Technologies Ltd - American Depositary Shares (GENE) 
US:NASDAQ Investor Relations: gtgcorporate.com/investor-centre
Company Research Source: GlobeNewswire
MELBOURNE, Australia, May 26, 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 priced a public offering of 4,000,000 American Depositary Shares (“ADSs”) (or ADS equivalents), each representing six hundred (600) of the Company’s ordinary shares, at an effective purchase price of $2.00 per ADS (or ADS equivalent). The closing of the offering is expected to occur on or about May 28, 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 from this offering are expected to be $8.0 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 the introduction and distribution of our new products in the United States, for Show less Read more
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