Genetic Technologies Launches Rights Issue

Genetic Technologies (AU:GTG) has released an update.

Genetic Technologies Limited has announced a rights issue aiming to raise up to $3.88 million to support its shift to a more capital-efficient structure and fund growth in its EasyDNA and AffinityDNA businesses. Shareholders are offered the opportunity to buy 2 new shares for every 3 held, at 4 cents each, with an accompanying option to purchase additional shares. The capital raised is intended to further the company’s leadership in personalized preventive genomics and its expansion in the U.S. market.

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