Plus   Neg

Stock Alert: Centogene Down 20%

Shares of Centogene N.V. (CNTG) are currently losing over 20% on Friday morning.

Centogene announced the pricing of its primary and secondary public offering of 3.5 million shares of the company, consisting of 2,000,000 common shares offered by the Company and 1,500,000 common shares offered by selling shareholders at price to the public of $14.00 per share. The company will receive total proceeds of $28 million, while the selling shareholders will get $21 million.

The offering is expected to close on or about July 14, 2020, subject to customary closing conditions.

Centogene intends to use the proceeds for research and development to support orphan drug development with its knowledge-driven information platform, as well as for working capital and other general corporate purposes.

CNTG is currently trading at $13.63, down $3.44 or 20.15%, on the Nasdaq.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hongkong Sun Rise Trading Ltd. has recalled about 151,400 units of Kobalt Cordless Electric chainsaws and about 106,520 units of Kobalt Cordless Electric pole saws for possible laceration hazard, according to two separate statements issued by the U.S. Consumer Product Safety Commission. These include 1,400 chainsaws and 120 pole saws sold in Canada. Branded food company Hormel Foods Corp. (HRL) announced Friday that its Hormel Black Label Breakfast Food Truck will hit the road with free sample event of the popular brand's new Hormel Black Label Oven-Baked Egg Bites. The samples come in three variants - with Bacon, with Chorizo and with Bacon and... United Airlines has rolled out an interactive online "Map Search" feature for its customers in collaboration with search giant Google. The new feature is powered by Google Flight Search Enterprise Technology. United is claimed to be the first airline in the U.S. to add this feature. The new feature, available on United.com, allows customers to easily search, compare and purchase flight tickets.
Follow RTT