financing

The firm said that the second tranche is part of the financing provided by Ampersand Capital for the $23.5 million acquisition of Cancer Genetics' biopharma business earlier this year.

The St. Louis-based firm will use the funds to develop its colorectal cancer screening test, which measures eukaryotic RNA isolated from epithelial cells in stool.

The firm will offer €4.4 billion of euro-denominated notes and $900 million in dollar-denominated notes. It will redeem another $4.5 billion in outstanding notes.

The firm is offering approximately 13.8 million shares and the same number of warrants to purchase shares, which will be sold together.

The company, founded in May 2018 and headquartered in Guangzhou in southern China, has developed a CRISPR-based rapid diagnostics platform for pathogen detection.

The Royal Oak, Michigan-based startup will use the funding to support development and commercialization of its pan-disease diagnostic testing platform. 

About $770 million in net proceeds will go toward the repayment of outstanding debt under its senior unsecured revolving credit facility.

The French metagenomic sequencing firm received funding from both historical and new investors, including debt financing from Norgine Ventures.

The company announced its European subsidiary priced an offering of €6.20 billion ($6.83 billion) in senior notes to fund part of its purchase of GE's Biopharma business.