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Centogene to Raise $28M in Public Stock Offering

NEW YORK – Rare disease diagnostics and research firm Centogene said on Thursday that it plans to sell a total of 3.5 million common shares in a primary and secondary public stock offering.

The offering consists of 2 million common shares offered by the company and 1.5 million common shares offered by selling shareholders at a price of $14 per share, for gross proceeds of $28 million and $21 million, respectively. Centogene will not receive any proceeds from the sale by the selling shareholders.

The selling shareholders have also granted the underwriters a 30-day option to purchase up to an additional 525,000 common shares at the public offering price.

Centogene, which is based in Rostock, Germany, plans to use the proceeds for research and development, in particular orphan drug development with its knowledge-driven information platform, as well as for working capital and other general corporate purposes. It might also use a portion of the proceeds to acquire or invest in complementary businesses, assets, or technologies.

The offering is expected to close on or around July 14, subject to customary closing conditions.

Credit Suisse and SVB Leerink are joint book-running managers for the offering and Baird, BTIG, and Kempen & Co are co-managers.