Genedrive PLC Equity Prepayment Facility drawdown (2580Y)
02 January 2024 - 6:00PM
UK Regulatory
TIDMGDR
RNS Number : 2580Y
Genedrive PLC
02 January 2024
genedrive plc
("genedrive" or the "Company")
Equity Prepayment Facility drawdown
genedrive plc (AIM: GDR), the point of care pharmacogenetic
testing company, today announces a further scheduled GBP600,000
draw down under the terms of the GBP5m Equity Prepayment Facility,
which was previously announced by the Company on 31 March 2023.
Investors have been granted 3,093,915 warrants equal to 40% of this
drawdown divided by the Reference Price of 7.7572 pence. The
exercise price of the warrants payable to the Company will be 140%
of the Reference Price equating to 10.86 pence.
Capitalised terms in this announcement shall, unless the context
demands otherwise, bear the meanings given to such terms in the
announcement of the Facility made via RNS on 31 March 2023.
For further details please contact:
genedrive plc +44 (0)161 989 0245
James Cheek: CEO / Russ Shaw: CFO
Peel Hunt LLP (Nominated Adviser
and Broker) +44 (0)20 7418 8900
James Steel / Patrick Birkholm
Walbrook PR Ltd (Media & Investor +44 (0)20 7933 8780 or genedrive@walbrookpr.com
Relations)
Anna Dunphy +44 (0)7876 741 001
About genedrive plc ( http://www.genedriveplc.com ) genedrive
plc is a pharmacogenetic testing company developing and
commercialising a low cost, rapid, versatile, simple to use and
robust point of need pharmacogenetic platform for the diagnosis of
genetic variations. This helps clinicians to quickly access key
genetic information that will help them make the right choices over
the right medicine or dosage to use for an effective treatment.
Based in the UK, the Company is at the forefront of work on Point
of Care pharmacogenetics. Pharmacogenetics looks at how your
genetics impacts a medicines ability to work for you. Therefore, by
using pharmacogenetics, medicines can be made safer and more
effective. The Company has launched its flagship product, the
Genedrive(R) MT-RNR1 ID Kit, which is a single-use disposable
cartridge which circumvents the requirement for cold chain
logistics by providing temperature stable reagent test kits for use
on their proprietary test platform. This test allows clinicians to
make a decision on antibiotic use within 26 minutes, ensuring vital
care is delivered with no negative impact on the patient
pathway.
The Company has a clear commercial strategy focused on
accelerating growth through maximising in-market sales, geographic
and portfolio expansion and strategic M&A, and operates out of
its facilities in Manchester.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDPPGGWPUPWGCB
(END) Dow Jones Newswires
January 02, 2024 02:00 ET (07:00 GMT)
Genedrive (LSE:GDR)
Historical Stock Chart
From Apr 2024 to May 2024
Genedrive (LSE:GDR)
Historical Stock Chart
From May 2023 to May 2024