Precigen Shares Gain 20% as Germany's Merck Raises Stake
By Colin Kellaher
Shares of Precigen Inc. rose more than 20% on Friday after
Germany's Merck KGaA raised its stake in the biopharmaceutical
Precigen said Merck, its second-largest shareholder, opted to
convert a $25 million note into common stock early, boosting its
stake in the Germantown, Md., company to 14.8% from 11.6%.
Precigen shares were recently up 20.6% to $5.32.
Write to Colin Kellaher at firstname.lastname@example.org
(END) Dow Jones Newswires
October 09, 2020 10:23 ET (14:23 GMT)
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