DNAPrint Acquires Trace Genetics in All-Stock Deal

NEW YORK, June 21 (GenomeWeb News) - DNAPrint Genomics has acquired Trace Genetics in an all-stock transaction, DNAPrint said today.

Shareholders in Trace Genetics, a provider of services for forensics and geneology reserach, exchanged all outstanding shares of Trace for 25 million shares of DNAPrint common stock and options to purchase 5 million additional shares at $0.02 per share, DNAPrint said.

DNAPrint trades on the over-the-counter bulletin board. The company's stock closed at $0.01 yesterday, and remained unchanged following the announcement.

DNAPrint, based in Sarasota, Fla., said that the acquisition of the San Francisco-based Trace will provide it with an operating base on the West coast. Trace also brings two complementary technologies -- y-chromosome testing and mitochondrial x-chromosome testing -- to DNAPrint's genealogy products, DNAPrint said.