Business
Genovis Exercises Call Option to Acquire Remaining Shares in SEQURNA, a fast-growing next-generation RNase inhibitors company
Genovis Exercises Call Option to Acquire Remaining Shares in SEQURNA, a fast-growing next-generation RNase inhibitors
About this update from Genovis Ab
[{"type":"text","content":"Genovis AB (publ) (“Genovis”) today announces that it has exercised its call option to acquire the remaining 75% of SEQURNA AB (“SEQURNA” or “Company”), a strategic move that accelerates Genovis’ expansion into the fast-growing genomics sector. This acquisition unlocks new product offerings for Genovis to both existing and new customers and further paves the way for the expansion into new application areas within genomics and transcriptomics. The purchase price, of MSEK 52.5 is settled partly in cash and partly through newly issued shares to SEQURNA’s founders, in accordance with the board authorization granted by the Annual General Meeting held on 21 May 2025. The shares were issued at a subscription price of SEK 25.59 corresponding to Genovis’ volume-weighted average share price over the 30-day period ending 27 June 2025.In July 2024, Genovis made a strategic investment in SEQURNA and acquired 25% of SEQURNA. This investment came with a call option to purchase the remaining shares in the Company. Since then, SEQURNA has demonstrated impressive commercial progress, with clear strong sales growth, high gross margins, and a scalable business model. The Company’s strong commercial development underscores the value of its unique technology platform and the capabilities of its founding team. This performance has validated Genovis’ belief in the Company’s potential, prompting Genovis to exercise the call option at the earliest possible time permitted under the agreement.The transaction, carried out under pre-defined terms of the original option agreement, reflects a valuation of SEQURNA of SEK 55 million for 100% of the shares on a cash- and debt-free basis, corresponding to approximately 8.6 times SEQURNA’s sales over the last 12 months. The aggregate purchase price for the remaining 75% of the shares in SEQURNA, incl. adjustments for net cash and working capital (SEK 15.0 million) amounts to SEK 52.5 million, and is paid partly in cash using cash at hand and partly by issuing 597,078 new shares (“Consideration Shares”) as authorized by the Annual General Meeting held on 21 May 2025. The subscription price for the Consideration Shares amounted to approx. SEK 25.59 per share, which corresponded to Genovis’ volume-weighted average price of Genovis’s shares on Nasdaq First North Growth Market during the 30-day period ending and in...