On May 30, 2022 Herantis Pharma Plc ("Herantis" or the "Company"), an innovative biotech company developing new disease modifying therapies for Parkinson’s disease, reported on 3 May 2022 that the Board of Directors of Herantis had decided to offer Herantis’ shareholders up to 4,831,426 new shares (the "Offer Shares") in a rights issue on the basis of shareholders’ pre-emptive subscription rights in the same proportion as they already hold shares in the Company and secondarily by other shareholders or by other persons (the "Offering") (Press release, Herantis Pharma, MAY 30, 2022, View Source,c3576694 [SID1234615227]). The subscription period for the Offering ended on 24 May 2022 in Sweden and on 27 May 2022 in Finland and according to the preliminary result, Herantis will receive gross proceeds of approximately EUR 7.25 million, from the Offering.

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According to the preliminary results of the Offering, the Offering was subscribed in full. Approximately 79.9 per cent of the 4,831,426 Offer Shares were subscribed for with subscription rights, and approximately 20.1 per cent were subscribed for without subscription rights. The subscription price in the Offering was EUR 1.50 per Offer Share in Finland and SEK 15.60 per Offer Share in Sweden.

"We are pleased with the great interest to participate in the Offering and we are thankful for the continued support of our current shareholders. We will use the net proceeds from this Offering to obtain regulatory approval and perform the first in-human study with the Herantis’ lead product candidate HER-096 that is planned to start in 2023.", comments Frans Wuite, the interim CEO of Herantis.

The final results of the Offering will be published on or about 1 June 2022 after the Board of Directors of Herantis has approved the subscriptions made in the Offering. Allotment of Offer Shares will be made in accordance with the terms and conditions of the Offering. As a result of the Offering, the total number of shares in Herantis will increase by 4,831,426 from 12,078,568 to 16,909,994 provided that the Board of Directors of Herantis approves the subscriptions made in the Offering. The Offer Shares issued in the Offering amount to approximately 28.6 per cent of the outstanding shares in Herantis following the Offering.

The last day of trading in the interim shares on Nasdaq First North Growth Market Finland ("First North Finland") will be on or about 2 June 2022 and on Nasdaq First North Growth Market Sweden ("First North Sweden") on or about 9 June 2022. The Offer Shares will be registered with the Finnish Trade Register maintained by the Finnish Patent and Registration Office on or about 3 June 2022. The interim shares will be combined with the Company’s existing shares once the Offer Shares have been registered with the Finnish Trade Register. The combination will take place on or about 3 June 2022 in Finland and on or about 10 June 2022 in Sweden. The trading in the Offer Shares on First North Finland will commence on or about 3 June 2022 and on First North Sweden on or about 10 June 2022. The Offer Shares confer the same rights as Herantis’ other shares, after being registered with the Finnish Trade Register and delivered on the investor’s book-entry account, on or about 3 June 2022 in Finland and on or about 10 June 2022 in Sweden.

UB Securities Ltd is acting as the lead manager of the Offering. Krogerus Attorneys Ltd is acting as the legal counsel to the Company as to Finnish law and Advokatfirman Cederquist KB as to Swedish law.