News: Genera Biosystems raises funds to progress molecular diagnostic platform

Genera Biosystems (ASX:GBI) has raised a further $615,000 after placing the final tranche of its Series B Convertible Notes to progress its AmpaSand™ Molecular Diagnostic platform.

The company has now raised a total of $2.5 million through the issue of 25,000 Series B Notes.

These notes may be converted into shares at a conversion price of $0.25 each anytime from 1 May 2015 until 31st July 2015 representing a conversion premium of 19% to the pre-offer share price.

After 31st July 2015, the Notes may be converted at $0.23 per share. The Notes only pay interest in the event of redemption and are not redeemable by note holders until 31st December 2016.

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