These are top 10 stocks traded on the Robinhood UK platform in July
LONDON - GENinCode PLC (AIM: GENI), a company specializing in predictive genetics for the prevention of cardiovascular disease, has successfully raised £4 million before expenses through a share placement and subscription. The funding round issued 108,108,108 new ordinary shares at a price of 3.7 pence each, which is a 5.1% discount to the closing market price of the company's shares on February 13, 2025.
The placement was managed through an accelerated bookbuild process by Cavendish and Oberon, who acted as agents on behalf of GENinCode. The fundraising is part of a broader strategy that also included a retail offer, details of which will be announced on February 18, 2025.
Directors of the company also participated in the subscription, with some, including Jordi Puig, Matthew Walls, Sergio Olivero, Paul Foulger, and Huon Gray, investing through affiliated parties. The share allocations to the directors are part of the overall issuance and will be finalized upon successful admission of the new shares to trading on the AIM market of the London Stock Exchange (LON:LSEG), expected around March 4, 2025.
The fundraising and share issuance are contingent upon the approval of shareholders at the General Meeting scheduled for March 3, 2025. A circular detailing the fundraising and the resolutions required for implementation will be made available to shareholders and posted on the company's investor relations website.
Following the admission of the new shares and assuming full participation in the retail offer, GENinCode's issued share capital will increase to 298,586,048 ordinary shares. These shares will rank equally with existing shares, granting holders the same rights to dividends and distributions.
This news is based on a press release statement and is intended for informational purposes only. It provides an overview of GENinCode's recent financing activities and outlines the involvement of company directors in the subscription process. The company's share price and the discount offered in the placement reflect the market conditions as of the last business day before the announcement of the fundraising.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.