Fluorotechnics to Raise $1.6M in Rights Offering | GenomeWeb

NEW YORK (GenomeWeb News) – Fluorotechnics today said that it is offering a one for five non-renouncable pro rata rights issue at A$.30 per share that it expects will bring in proceeds of A$1.8 million (US$1.6 million).

The Australian supplier of fluorescence and other protein detection technologies said that the shares are priced at a 14 percent discount to its closing price on the Australian Stock Exchange yesterday.

Fluorotechnics intends to use the proceeds for sales and marketing initiatives and as working capital.

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