Genosis to raise
Genosis, a UK company focusing on consumer products for reproductive health, is raising funds and proposes to be listed on The London Stock Exchange's Alternative Investment Market (AIM). Dealings are expected to commence in the Ordinary Shares from early December.
Genosis, a UK company focusing on consumer products for reproductive health, is raising funds and proposes to be listed on The London Stock Exchange's Alternative Investment Market (AIM). Dealings are expected to commence in the Ordinary Shares from early December.
Genosis has signed an exclusive agreement with Boots, to sell and distribute Fertell - an at-home fertility testing kit for both men and women - in the UK from January. Fertell has otc regulatory clearance for sale in both the EU and the US. The company estimates worldwide potential market size for Fertell to be more than $500m a year.
Genosis is raising £7m before expenses through a placing of 6,363,634 shares at 110 pence per share. Shares have been placed with institutional and other investors. The new shares will represent approximately 41.1 % of the Enlarged Issued Share Capital of the company.
The money will provide working capital injection to allow Genosis to accelerate the roll-out of Fertell in the UK and abroad. It also plans to invest in further manufacturing capacity.