StockMarketWire.com - Molecular diagnostics group Yourgene Health said it expected to raise £16.2m via a share issue to help fund its acquisition of Vancouver-based sample preparation company Coastal Genomics,
New shares in the company were issued at 17p per share, following an initial announcement about the raising late on Tuesday.
Coastal Genomics was being acquired for up to $13.5m, comprising an initial consideration of $3m in cash and $2.5m in equity, plus a contingent consideration of up to $8.0m payable in cash and equity.
Yourgene said the deal would offering a complementary DNA sample preparation technology enabling customers to choose and use Yourgene for a wider range of diagnostic and genomics solutions.
Story provided by StockMarketWire.com
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