Ann: GTG Announces US$5.1 Million Capital Raising, page-2

You don't get U.S insto backing at the high end of the rally if they don't think GTG is the real deal, management definitely proving themselves lately

MELBOURNE, AUSTRALIA, July 17, 2020 -- Genetic Technologies Limited (ASX: GTG; NASDAQ:
GENE) ("GTG" or “Company”), a leader in the development of genetic risk assessment tests, today
announced that it has entered into conditional agreements with several institutional investors for the
purchase and sale in a registered direct offering of 1,025,000 American Depositary Shares (“ADSs”), each
representing six hundred (600) of the Company’s ordinary shares, at a purchase price of US$5.00 per ADS
or AU$0.012 per Share. The closing of the offering is expected to occur on or about July 20, 2020, subject
to the satisfaction of conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds to the Company from this offering are expected to be approximately US$5.1 million,
before deducting the placement agent’s fees and other offering expenses payable by the Company. The
Company intends to use the net proceeds from this offering to support the introduction and distribution of
its new products in the United States, for general product research and development and reimbursement
studies for polygenic risk tests with TGen in the United States, for implementation of its consumer initiated
testing platforms and preparation for its Covid-19 Severity Risk Test as well as for working capital and
potential acquisitions.
The securities described above are being offered by the Company pursuant to a “shelf” registration
statement on Form F-3 (File No. 333-237152) previously filed with the U.S. Securities and Exchange
Commission (the “SEC”) on March 13, 2020 and declared effective by the SEC on March 23, 2020. The
offering of the securities will be made only by means of a prospectus, including a prospectus supplement,
forming a part of the effective registration statement. A final prospectus supplement and accompanying
prospectus relating to the securities being offered will be filed with the SEC.
The issue of the underlying GTG Shares is within GTG's capacity under ASX Listing Rule 7.1 and no
shareholder approval is required.
The subscription agreement is conditional on a number of matters including re-quotation of GTG Shares
on ASX prior to the opening of trading on Monday 20 July 2020.