On December 14, 2021 Targovax ASA’s (the "Company") reported that published on 30 November 2021 regarding the commencement of the subscription period 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 offer share (the "Rights Issue") (Press release, Targovax, DEC 14, 2021, View Source [SID1234597070]).

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The subscription period for the Rights Issue expired at 16:30 hours (CET) today, on 14 December 2021.

Preliminary counting indicates that the Company has received subscriptions for approximately 110 million Offer Shares in the Rights Issue.

The final allocation of the Offer Shares will take place on 15 December 2021 in accordance with 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 final result of the Rights Issue will be published shortly thereafter, and letters regarding allocation of the Offer Shares and the corresponding subscription amount to be paid by each subscriber, are expected to be distributed on 15 December 2021.

The due date for payment of the Offer Shares is expected to be on or about 17 December 2021.