Genetic Technologies (AU:GTG) has released an update.
Genetic Technologies Limited announces a non-renounceable entitlement offer to raise between $2 million and $3.88 million by offering shareholders the opportunity to purchase two new shares for every three held, at 4 cents each, with an additional option for every new share. Shareholders can also apply for extra shares through a ‘Top-Up Facility,’ with a portion of the offer underwritten by the company’s Directors. The funds raised are intended to support working capital and facilitate the company’s transition to a leaner capital light operations structure.
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