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stock offering

To help fund the acquisition, Yourgene Health is planning to sell at least £10.0 million in newly issued shares to institutional investors.

The firm expects to offer nearly 5 million shares and also noted that this week it entered into an amended credit facility.

The company said the decrease was partially due to the impact on its clinical services business unit from the adoption of new revenues recognition standards.

Proceeds will be used for the anticipated regulatory submission of its gene panel test for urinary tract infections and drug resistance, among other things.

The company said it will offer 4.5 million shares for $23 per share and intends to use the net proceeds for working capital and general corporate purposes.

The company said it will offer 2.5 million shares, while stockholder Clarus Lifesciences will sell another 2 million shares in the offering.

Last month, the company said it was planning a $7.5 million public offering of 6.25 million shares and warrants for another 6.25 million shares.

Under deal, HTG will sell to or through Cowen from time to time $40 million of its common stock though it is not obligated to sell any shares.

The company plans to sell 9 million shares at $19.00 per share, which is expected to bring in $171.0 million in gross proceeds.

Invitae hasn't priced the offering yet or disclosed how many shares it will offer, but it expects net proceeds to range from $117.1 million to $134.7 million.

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