UK investor article re SVB11 Mar 2023 10:05
Yourgene Health (LON: YGEN)
At the beginning of 2022, AIM-quoted diagnostics firm Yourgene Healthcare entered into a three-year, £5m loan facility with Silicon Valley Bank. There was £4.1m drawn down by September 2022 when net debt was £1.7m.
A placing and retail offer raised £6.8m at 0.3p a share, after expenses. This was required for working capital and product development. That should provide the required cash for the business until at least the third quarter of 2023. Singer forecasts net debt of £2.2m by the end of March 2024. The Taiwan subsidiary is being sold and a strategic investor is being sought.