NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, THE UNITED KINGDOM, AUSTRALIA, JAPAN, CANADA, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SWITZERLAND, SINGAPORE, SOUTH KOREA, RUSSIA, BELARUS OR IN ANY OTHER JURISDICTION WHERE THE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR REQUIRE ADDITIONAL REGISTRATION OR OTHER MEASURES BEYOND THOSE REQUIRED BY SWEDISH OR NORWEGIAN LAW.
The subscription period in Genetic Analysis AS’ (“GA” or the “Company”) subsequent offering with gross proceeds of up to approximately NOK 9 million and 11,392,405 new shares at a subscription price of NOK 0.79 per share with preferential rights for existing eligible shareholders (the “Subsequent Offering”), ended today on December 22, 2023 at 12:00 hours (CET). Today, the Company announces the preliminary outcome of the Subsequent Offering following expiry of the subscription period. The preliminary results of the Subsequent Offering indicates that approximately 4,095,095 shares, corresponding to approximately 36 percent of the Subsequent Offering, have been subscribed (including oversubscription), raising gross proceeds of approximately NOK 3,2 million before deduction of issue costs. The final outcome of the Subsequent Offering and further details on allocation and payment is expected to be published on or about December 27, 2023.
Preliminary outcome of the Subsequent Offering
The preliminary outcome indicates that approximately 4,095,095 shares, corresponding to approximately 36 percent of the Subsequent Offering, have been subscribed (including oversubscription). Subscription was only allowed for holders of subscription rights. Subject to final results, the Subsequent Offering will provide the Company with proceeds of approximately NOK 3,2 million before deduction of costs related to the Subsequent Offering.
The shares in the Subsequent Offering will be resolved issued by the Company’s board of directors pursuant to an authorization to increase the Company’s share capital granted by the Company’s extraordinary general meeting on November 20, 2023. Issuance and final allocation of shares in the Subsequent Offering to subscribers is expected to be resolved by the board of directors on or about December 27, 2023. The final outcome of the Subsequent Offering and further details on allocation and payment will be published shortly thereafter.
Advisors
In connection with the Subsequent Offering, Sedermera Corporate Finance AB (www.sedermera.se) is appointed Swedish financial advisor and Advokatfirmaet Wiersholm AS is the Company’s Norwegian legal advisor.
For further information, please contact:
Ronny Hermansen, CEO
E-mail: rh@genetic-analysis.com
Eilert Aamodt, Chief Financial Officer
E-mail: ea@bm
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