NEW YORK — Australian molecular diagnostics firm Genetic Technologies said on Thursday that it has signed definitive agreements to sell $5.1 million worth of its American Depository Shares (ADSs) to institutional investors.
Through the direct offering, the Genetic Technologies will sell 1,025,000 ADSs at $5 apiece. Each ADS, the company said, represents 600 of its ordinary shares. The transactions are expected to close on or around July 20.
HC Wainwright is the exclusive placement agent for the offering.