PanGenomic Health, Inc. Class A (TSE:NARA) has released an update.
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PanGenomic Health Inc. is undertaking a private placement offering to address its $1 million debt through the sale of 20 million units at $0.05 each, with each unit including a share and a warrant. The offering is expected to more than double the current number of issued shares, with the company bypassing shareholder approval due to urgent financial difficulties. The securities issued will be subject to a four-month hold period, with the offering anticipated to close within five business days from the announcement.
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