Genetic Technologies (GENE) has released an update.
Genetic Technologies Limited has completed a $2 million registered direct offering, issuing 1,000,000 American Depositary Shares (ADSs) and concurrent warrants to purchase additional ADSs, with the proceeds aimed to bolster marketing initiatives, commercialize new tests, and for general corporate purposes. H.C. Wainwright & Co. served as the exclusive placement agent for the capital raise, which does not require shareholder approval due to prior consent. The funds will specifically support the launch of a comprehensive breast and ovarian cancer risk test, expansion into European and Southeast Asian markets, and other corporate needs.
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