US fund takes small stake in cancer diagnostics firm Pacific Edge, shares lift

Sun, 29 Jul 2018

By Rebecca Howard July 30 (BusinessDesk) - Pacific Edge said Manchester Management Company, a US privately owned fund specialising in biotech and life sciences investments, will take a 1.7 percent stake in the company, reflecting growing international investor interest. The Dunedin-based cancer diagnostics company said it has accepted an investment offer of NZ$2.622 million and will issue 8.2 million shares in aggregate to Manchester Management at 32 cents per ordinary share, a 24.75 percent premium over the volume weighted average price...

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