Prenumeration
On May 5th, Genetic Analysis AS (“Genetic Analysis” or the “Company”) announced a placement of a directed issue of NOK 12.8m before transactions related costs of NOK 0.6m, which is conditional on approval from the annual general meeting on May 19th. The subscription price amounts to NOK 0.86 per share and is based on the average volume weighted trading price on Spotlight Stock Market the last 15 trading days up to and including April 24th, 2025. The directed rights issue consists of 14,890,576 new shares, which equals a dilution effect of approximately 30% for existing shareholders.
In conclusion, Analyst Group considers the announced directed share issue as no major surprise, as we expect the Company to continue to invest in commercial activities for the GA-map® platform, with an increased focus on the US market, which we consider a good strategic investment for the Company’s future growth. However, given that the subscription price is based on the average volume-weighted trading price up to and including April 24th, the directed issue is made at a discount of 59% compared to the closing price of NOK 2.12 on May 2nd, as the share price increased between April 24th and the announcement of the directed share issue. Existing shareholders who do not participate in the directed share issue are intended to be offered the opportunity to subscribe for shares at the same price as the directed issue, NOK 0.86, in a subsequent offering. Nevertheless, the directed issue results in a dilution effect of 30% for existing shareholders.
Read Analyst Group’s comment here
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This is a press release from Analyst Group regarding the publication of a comment on Genetic Analysis. Readers may assume that Analyst Group has received compensation for making the comment. The Company has not been given an opportunity to influence the parts where Analyst Group has had opinions about the Company, future valuation or anything else that could be considered a subjective assessment.