Mainz Biomed Announces Secondary Offering Of 1,500,000 Ordinary Shares

Mainz Biomed has been facilitating the work of doctors and patients for about 15 years by offering its products for the diagnosis of cancer by molecular genetic methods. Its main product is ColoAlert, a diagnostic test for colorectal cancer. So far, it is sold in Europe, however, the developer plans to bring it to the US market soon, having received FDA and regulatory approval. This business is valued at $243.202M at a price of $19.99 per share. On January 21, during official trading, the worth rose to an all-time high of 27.54. Today, it is trading at $15.34.

Mainz Biomed

Mainz Biomed intends to issue additional shares after the IPO, for which it announced the guaranteed secondary offering price of 1,500,000 ordinary shares at $15 each. This offer will close on January 28 of the current year, subject to the normal closing conditions. In addition, according to the company, underwriters can buy 225,000 additional ordinary shares, also for $15; in this case, only Boustead Securities is the underwriter.