Australia's Genetic Signatures hits nearly 5-1/2-year low on discounted capital raise

Genetic Signatures

21/12/2023 24:27

** Shares of Genetic Signatures  GSS.AX  slip as much as
2.3% to A$0.430, hitting their lowest level since Aug 2, 2018 
    ** Medical equipment and technology co says it's undertaking
a capital raising of about A$15.9 mln ($10.72 mln)
    ** Issue price of A$0.37 per share is at a 15.9% discount to
stock's last close on Dec 18 
    ** Co says proceeds will be used to fund growth initiatives
including U.S. regulatory clearances 
    ** GSS stock down 50% YTD, as of last close 

($1 = 1.4839 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))