Gentian Diagnostics AS announced private placement of 2,857,143 common shares at a price of NOK 35 per share for gross proceeds of NOK 100,000,000 on January 19, 2017. The transaction will take place in two tranches. The first tranche will close on January 20, 2017 and the second tranche of the transaction will close on January 27, 2017. The second tranche will include participation from existing shareholders holding less than 70,000 shares and employees of the company. The first tranche will involve 95% of proceeds and remaining 5% will be placed in second tranche. The second tranche is conditional upon successful completion of book building in first tranche. The minimum application amount in first tranche will be NOK 1,000,000. The minimum allocation amount in the first tranche will be the NOK equivalent of NOK 904,313 (€100,000). No minimum application amount applies to shareholders in the company or investors being employees in the company. The transaction is subject to approval of shareholders of the company in extraordinary general meeting, and board of directors. The transaction will involve participation from domestic investors and international institutional investors. The conversion was made through www.oanda.com on January 19, 2017.