On September 15, 2021 Herantis Pharma Plc ("Herantis" or the "Company") reported the result of the offering of new shares (the "Placing Shares") in a private placement to institutional and other qualified investors (the "Placing") (Press release, Herantis Pharma, SEP 15, 2021, View Source,c3416074 [SID1234587799]). The Company announced the launch of the Placing by way of a company release published on 15 September 2021. Herantis raises gross proceeds of EUR 4.04 million in the Placing.

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In the Placing, the Company expects to issue a total of 1,346,500 Placing Shares in a directed share issue. The Placing Shares represent approximately 13.8 per cent. of the issued shares in Herantis prior to the Placing and approximately 12.1 per cent. of the issued shares in Herantis following the Placing. The total number of issued shares in the Company after the Placing will be 11,103,568.

The subscription price of the Placing Shares is EUR 3.00 per Placing Share, corresponding to a discount of 6.5 per cent to the closing price on First North Growth Market Finland immediately before the commencement of the Placing on 15 September 2021. The subscription price shall be recorded in the invested unrestricted equity reserve.

The Placing was carried out based on offers received in an accelerated book building and based on the authorisation given to the board of directors by the Company’s extraordinary general meeting of 2 December 2020.

As previously announced, Acme Investments SPF Sarl, a company controlled by Timo Syrjälä, and Nanoform Finland Plc participated in the Placing among several other investors.

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.

Herantis intends to make applications for the admission into trading of the Placing Shares on Nasdaq First North Growth Market Finland and on Nasdaq First North Growth Market Sweden. 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, subject to the respective listing applications being approved.

The CEO of Herantis, Craig Cook comments: "We are pleased with the support amongst existing as well as respected new shareholders in Herantis. The funds will clearly enable us to continue the important development activities of our novel disease-modifying CNS drugs rhCDNF and xCDNF (HER-096). These assets are the epitome of our ground-breaking science and have the potential to slow, stop or even reverse the progression of neurodegenerative diseases with high impact for patients and society. Herantis is well positioned to capitalize on this momentum and create value for our growing list of world class shareholders."

Swedbank AB (publ) 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.