GeneNews Completes Rights Offering Of 23 Mln Shares

6/12/2012 12:39 PM ET

GeneNews Ltd. (GEN.TO: Quote) Tuesday completed rights offering to holders of its common shares of record at the close of business on May 1.

The company issued a total of 23.22 million shares under the rights offering at a price of $0.11 per share for gross proceeds of about $2.55 million.

The offering was fully subscribed with 11.58 million shares issued pursuant to the basic subscription privilege, 10.46 million shares issued pursuant to the additional subscription privilege and 1.19 million shares issued pursuant to the stand-by guarantee.

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by RTT Staff Writer

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