(Alliance News) - Yourgene Health PLC on Tuesday said its acquisition of sample preparation technology company Coastal Genomic Inc is now unconditional following the admission of 95 million placing shares.
Last Tuesday, the Manchester-based molecular diagnostics group announced a share placing at 17 pence each to raise minimum of GBP13 million. It added it agreed to buy Coastal Genomics based in Vancouver, Canada for up to USD13.5 million, comprising an initial amount of USD3 million in cash, USD2.5 million in equity and a contingent consideration of up to USD8.0 million payable in cash and equity.
On Tuesday Yourgene said that following admission of the consideration shares, its share capital comprises 719.5 million shares.
The stock was trading 4.7% lower at 17.15p each on Tuesday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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