Genedrive confirms £0.6m equity prepayment drawdown

2nd Jan 2024 14:39

(Sharecast News) - Genedrive confirmed a planned £0.6m drawdown as part of its £5m equity prepayment facility on Tuesday, which it initially disclosed on 31 March 2023.

The AIM-traded firm said that as a result, investors would be issued 3,093,915 warrants, representing 40% of the drawdown's value divided by the reference price of 7.7572p.

It said the warrants would have an exercise price of 140% of the reference price, equating to 10.86p.

At 1336 GMT, shares in Genedrive were down 0.92% at 8.05p.

Reporting by Josh White for Sharecast.com.