By Marisa Wong
Milwaukee, Sept. 25 - Omega Diagnostics Group plc announced that it has raised £1 million through a private placement of stock.
The company sold 5 million shares at 20p per share.
Omega said the deal was oversubscribed and that its single largest shareholder sold his entire stake to investors to accommodate the excess demand.
Proceeds will be used partly to fund the acquisition of Co-Tek Ltd, a company that produces various tests for diagnosing bacterial diseases.
Based in Alva, Scotland, Omega is a medical diagnostics company.
| Issuer: | Omega Diagnostics Group plc
|
| Issue: | Shares
|
| Amount: | £1 million
|
| Shares: | 5 million
|
| Price: | 20p
|
| Warrants: | No
|
| Announcement date: | Sept. 25
|
| Stock symbol: | London: ODX
|
| Stock price: | 24p at close Sept. 25
|
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