By Devika Patel
Knoxville, Tenn., Oct. 2 - Devgen NV said it raised €14.69 million in a private placement of shares.
The company sold 1,753,339 shares at €8.38 per share.
Proceeds will be used to grow Devgen's seeds and crop technology business in line with its business plan, in particular to accelerate the growth of its premium hybrid rice seed business and the introduction of its biotech traits in rice in the Indian subcontinent and South-East Asia.
Based in Ghent, Belgium, Devgen is a biotechnology company focused on agriculture and treatments for metabolic diseases and inflammation.
| Issuer: | Devgen NV
|
| Issue: | Shares
|
| Amount: | €14,692,981
|
| Shares: | 1,753,339
|
| Price: | €8.38
|
| Warrants: | No
|
| Settlement date: | Oct. 2
|
| Stock symbol: | Brussels: DEVG
|
| Stock price: | €8.50 at close Oct. 2
|
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