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LONDON - GENinCode PLC (AIM:GENI.L), a company specializing in the prevention of cardiovascular disease and the early detection of ovarian cancer, has announced a retail offer of new Ordinary Shares through RetailBook at a discounted issue price. The offer, made to both existing shareholders and new investors, is set at 3.7 pence per new Ordinary Share, which is a 5.13% discount compared to the closing mid-price of the company's shares on Monday.
The retail offer is part of a larger fundraising initiative that includes a placing of new Ordinary Shares to institutional investors and a proposed subscription by entities associated with certain directors. The overall fundraising is contingent upon shareholder approval at a general meeting scheduled for March 3, 2025, with the retail offer set to close on Friday.
GENinCode's fundraising efforts aim to secure capital to complete its US regulatory and reimbursement program, expand commercialization in the US, and enhance its UK and European operations. The company's goal is to reach a breakeven point or profitability over the medium term.
Participation in the retail offer is facilitated through RetailBook's network of investment platforms, retail brokers, and wealth managers, with a minimum subscription of £50 per investor. Notably, RetailBook is not charging any commission on applications to the retail offer, which has a cap of £500,000.
The new Ordinary Shares issued will be fully paid and rank equally with existing Ordinary Shares, including the right to receive dividends and other distributions declared after the date of issue. The offer is open to investors who are residents and physically located in the United Kingdom (TADAWUL:4280), with the company reserving the right to scale back orders or reject applications at its discretion.
Investors are cautioned that investing in the company carries risks, and the value of investments can fluctuate. GENinCode advises potential investors to seek independent advice and to be aware that past performance is not indicative of future results.
This announcement is based on a press release statement and does not constitute investment advice or an endorsement of GENinCode's future prospects.
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