Evogene, Ltd., a self-described “leading computational biology company focused on revolutionizing product discovery and development in multiple life-science based industries, including human health and agriculture, today announced that it has entered into a definitive agreement with ARK Investment Management, LLC (ARK Invest) and Alpha Capital Anstalt in connection with a registered direct offering of ordinary shares at a price per share of $1.70, for an aggregate cash consideration of $10 million,” according to a press release from the group.
That investment, again led by ARK Invest, does so while “specializing in thematic investing in disruptive innovation, will invest $7 million and Alpha Capital Anstalt will invest $3 million,” the release continues.
Evogene will use this funding to “further develop its and its subsidiaries’ product pipelines, to further enhance and expand its computational predictive biology platform, and for working capital and general corporate purposes,” among other things.
This trade should close on September 3 this year, assuming everything goes smoothly.
ARK Invest describes itself as “a federally registered investment adviser with the U.S. Securities and Exchange Commission and privately held investment firm,” and has over 40 years of experience investing in innovative companies, the release concludes.
Remember, all trading carries risk. Past performance is no guarantee of future results.