- Telo Genomics (TELO) has completed the second and final tranche of its oversubscribed non-brokered private placement
- The company issued an additional 390,000 units for gross proceeds of C$195,000
- The offering has now raised a total of $2,287,750
- Telo intends to use the proceeds to fund its studies with the Mayo Clinic as well as a new certified Clinical Laboratory Improvement Amendments lab
- Telo Genomics is a biotech company pioneering a telomere platform applicable to liquid biopsies and related technologies in oncology and neurological diseases
- Telo Genomics (TELO) is up by 2.04 per cent and is currently trading at $0.50 per share
Telo Genomics (TELO) has completed the second and final tranche of its oversubscribed non-brokered private placement.
The company issued an additional 390,000 units for gross proceeds of C$195,000.
The offering has now raised a total of $2,287,750.
Each unit consists of one Telo common share and one-half of one non-transferable common share purchase warrant.
Each warrant entitles the holder to acquire one additional common share for $0.75 until January 2, 2023.
Telo intends to use the proceeds to fund its ongoing collaborative studies with the Mayo Clinic in multiple myeloma, the construction or purchase of a certified Clinical Laboratory Improvement Amendments lab, the exploration of additional indications and for general working capital purposes.
A director of the company subscribed for 10,000 units, which constitutes a related party transaction.
Telo Genomics is a biotech company pioneering a telomere platform applicable to liquid biopsies and related technologies in oncology and neurological diseases.
Telo Genomics (TELO) is up by 2.04 per cent and is currently trading at $0.50 per share as of 1:13 pm ET.
