On September 15, 2021 Herantis Pharma Plc ("Herantis" or the "Company") reported its intention to issue new shares (the "Placing Shares") in a private placement to institutional and other qualified investors (the "Placing") to raise a minimum of EUR 4 million in gross proceeds (Press release, Herantis Pharma, SEP 15, 2021, View Source,c3415965 [SID1234587740]). The gross proceeds of the Placing may be higher than the planned preliminary minimum amount.

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The number of Placing Shares and their subscription price will be decided based on offers received in an accelerated book building. Swedbank AB (publ) ("Swedbank") is acting as the global coordinator and bookrunner of the Placing in association with Kepler Cheuvreux. The result of the Placing will be published by way of a company release after the completion of the book building. The book building will be launched immediately following the publication of this company release and the book building is expected to end by 8:30 p.m. CEST on 15 September 2021. The book building can be discontinued or extended at any time during the book building process.

Acme Investments SPF Sarl, a company controlled by Timo Syrjälä, and Nanoform Finland Plc ("Nanoform") have indicated their intention to participate in the Placing. In addition, Herantis is continuing its collaboration with Nanoform as previously disclosed.

The Placing will be carried out based on the authorisations given to the board of directors by the Company’s annual general meeting of 15 April 2021 and the extraordinary general meeting of 2 December 2020.

Subject to the completion of the Placing, the Placing Shares (ISIN code FI4000087861) will be registered with the trade register maintained by the Finnish Patent and Registration Office on or about 16 September 2021. The Placing Shares are expected to be ready for delivery to the investors against payment through Euroclear Finland Oy or, as applicable, through Euroclear Sweden AB on or about 20 September 2021. Trading in the Placing Shares is expected to commence on Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden on or about 20 September 2021.

Reasons for the Placing and use of proceeds

Herantis intends to use the net proceeds from the Placing for the following purposes:

progressing development of rhCDNF and xCDNF (HER-096) to point of entering clinical development; and
general corporate purposes.
The Placing is expected to allow the Company to obtain needed financing on terms that, in the assessment of the Company, will be more beneficial than terms that would otherwise be available, and therefore weighty financial reasons exist for deviating from the pre-emptive rights of the shareholders.

Swedbank is acting as the global coordinator and bookrunner of the Placing in association with Kepler Cheuvreux. Krogerus Attorneys Ltd is acting as the legal counsel to the Company as to Finnish law and Borenius Attorneys Ltd is acting as the legal counsel to the global coordinator and bookrunner of the Placing as to Finnish law.