Genetron Health Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company
August 24, 2022 at 2:54:40 AM
Genetron Holdings Limited (“Genetron Health” or the “Company”, NASDAQ: GTH), a leading precision oncology platform company in China that specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development, announced today that its Board of Directors (the “Board”) has received a preliminary non-binding proposal letter dated August 21, 2022 (the “Proposal Letter”) from Mr. Sizhen Wang, co-founder, chairman of the Board and chief executive officer of the Company (the “Proposing Buyer”) to acquire all of the outstanding ordinary shares, par value $0.00002 per share (the “Ordinary Shares”) of the Company, including the Ordinary Shares represented by the American depositary shares of the Company (the “ADSs”, each representing five Ordinary Shares) for US$0.272 per Ordinary Share or US$1.36 per ADS in cash (the “Proposed Transaction”).
According to the Proposal Letter, the Proposing Buyer intends to fund the consideration payable in the Proposed Transaction with a combination of debt and equity capital. Equity financing is expected to be provided in the form of rollover equity in the Company and cash contributions from the Proposing Buyer and third party sponsors.
- GlobeNewswire -
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