Centogene Raises $62M Via Debt And Equity Financings To Support Growth Plan

Vandana Singh
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Centogene N.V. (NASDAQ: CNTG) has closed a €15 million (approximately $17 million) private placement financing from investors led by DPE Deutsche Private Equity, TVM Capital Life Science, and Careventures.

  • The private placement financing includes the sale of 4.5 million shares at $3.73 and warrants to acquire up to 1.34 million additional shares at an exercise price per share of $7.72.

  • The Company has announced a $45 million senior secured loan facility provided by Oxford Finance LLC, a specialty finance firm providing senior debt to life sciences and healthcare companies.

  • Centogene has drawn down $25 million and will have access to the second tranche of $20 million upon the achievement of certain conditions.

  • The Company in Q3 earnings release said it is exploring options for raising additional cash. Centogene warned that "absent additional or debt financing, we may be unable to continue as a going concern."

  • The Company has also named Kim Stratton as Chief Executive Officer, transitioning from her prior designation as Interim CEO.

  • This nomination follows the notification by Andrin Oswald, the Company's CEO & Managing Director, that he has resigned from his position to focus on his recovery.

  • Price Action: CNTG shares closed at $4.42 on Monday.

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