Progentec Diagnostics, Inc. announced that it will issue 25,000,000 series A preferred shares at a price of $1 per share for the gross proceeds $25,000,000 on December 20, 2019. The preferred shares will be entitled to receive non-cumulative dividend at rate of $0.08 per share and will be convertible into common shares at a fixed conversion price of $1 per share. The transaction will be raised at post money valuation of $25,000,000.