On December 15, 2021 Targovax ASA’s (the "Company") stock exchange reported that published on 14 December 2021 regarding the preliminary results in the rights issue of 101,744,186 new shares in the Company (the "Offer Shares") at a subscription price of NOK 1.72 per share (the "Rights Issue") (Press release, Targovax, DEC 15, 2021, View Source [SID1234597218]). The subscription period for the Rights Issue in the Company expired at 16:30 hours (CET) on 14 December 2021.

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At the expiry of the subscription period in the Rights Issue, the Company had received subscriptions for a total of 109,748,125 Offer Shares.

The final allocation of the Offer Shares in the Rights Issue has now been completed based on the allocation criteria set out in the Company’s prospectus dated 29 November 2021, comprising a registration document and a securities note (jointly, the "Prospectus").

The board of directors of the Company has allocated a total of 101,744,186 Offer Shares in the Rights Issue, of which 69,352,805 Offer Shares were allocated based on validly exercised subscription rights and the remaining Offer Shares were allocated to the subscribers who had exercised their subscription rights and over-subscribed Offer Shares on a pro rata basis based on the number of subscription rights exercised by each such subscriber, which includes the two underwriters who subscribed for Offer Shares in the subscription period.

Notifications of allocated Offer Shares and the corresponding subscription amount to be paid by each subscriber are expected to be distributed later today, on 15 December 2020. Payment for the allocated Offer Shares falls due on 17 December 2021 in accordance with the payment procedures described in the Prospectus.

The Offer Shares may not be transferred or traded before they have been fully paid and the share capital increase pertaining to the Rights Issue has been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret). It is expected that the share capital increase will be registered in the Norwegian Register of Business Enterprises on or about 21 December 2021 and that the Offer Shares will be delivered to the VPS accounts of the subscribers to whom they are allocated on or about the next day. The Offer Shares are expected to be tradable on the Oslo Stock Exchange from and including 22 December 2021.