No official announcement yet, but breaking in AFR:
https://www.copyright link/street-talk/sonic-healthcare-set-to-lift-stake-in-microba-to-19-9pc-20250619-p5m8rg
Sonic Healthcare set to lift stake in Microba to 19.9pc
The $12.7 billion diagnostics giant Sonic Healthcare is set to lift its stake in biotech Microba Life Sciences to 19.9 per cent, the maximum permissible shareholding allowed in a listed company in absence of a takeover bid, as part of an equity raising.Microba Life Sciences chairman Ian Frazer, CEO Luke Reid and co-founder Gene Tyson at the listing ceremony in April 2022. Microba, a developer of testing services and therapies for gut health, launched a $10 million equity raising on Thursday morning, sending out stockbrokers Morgans Corporate and Canaccord Genuity to find buyers at 9¢ apiece, representing a 21.7 per cent discount to the last close. It would be followed by a $2 million share purchase plan.A term sheet sent to fund managers said Sonic Healthcare, which first flagged its intention to move to 19.99 per cent back in November 2022, would invest up to $8.3 million across three tranches to finally hit the shareholding target.Fund managers were told Microba would use the proceeds to advance the commercialisation of its core tests MetaXplore and MetaPanel, including product development, sales and clinical evidence.The raising comes after Microba has lost 36 per cent o f its sharemarket value in the past 12 months.
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