Genetic Analysis AS (“GA” or the “Company”) is pleased to announce that it has successfully placed a directed issue and on basis of commitments received from current major shareholders, the board of directors of GA has allocated 6,625,916 new shares at a subscription price of NOK 0.75 per share (the “Directed Issue”), through which the Company will raise approximately NOK 4.97 million before transaction related costs. Subscribers of the Directed Issue is a group of existing shareholders, including the Company’s main shareholder Bio-Rad Laboratories. The subscription price of the Directed Issue of NOK 0.75 equals the average volume weighted trading price on Spotlight Stock Market the last 14 trading days up to 20 June 2024. The Company has in addition received applications for new shares at the same subscription price from certain members of the board of directors and management through which the Company may raise an additional NOK 450,000, subject to approval by an extraordinary general meeting of the Company (the “EGM Conditional Issue”). The Company has further received committed innovation loan financing related to commercial expansion of the Company’s business in the US of NOK 4,400,000 on favourable terms, conditional on the Company raising at least NOK 5 million in proceeds from a matching equity offering.
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