Parnell Pharmaceuticals Holdings Ltd announces proposed rights offering
by Katie Pfaff
Parnell Pharmaceuticals Holdings Ltd recently announced its intention to raise $4 million through a backstopped rights offering at no charge for qualifying shareholders of record as of Dec. 6, 2022.
The Rights Offering will be fully backstopped by existing investors DW Healthcare Partners V, L.P. and DW Healthcare Affiliates V, L.P. subject to the terms and conditions of the backstop agreement as more fully described in the offering circular issued in connection with the Rights Offering.
Under the proposed Rights Offering, Parnell plans to distribute to qualifying shareholders on the Record Date non-transferable subscription rights entitling the holder of such right to subscribe for a fixed number of Parnell's ordinary shares of common stock at a subscription price per share of $0.075.
The subscription rights may be exercised only during the anticipated subscription period of Dec. 6, 2022 through 5:00 p.m. Eastern Time on Jan. 5, 2023, subject to any extension or cancellation on the terms of the Offering Circular.
Learn more on the company’s website: https://parnell.com/
About Parnell Pharmaceuticals Holdings Ltd
Parnell is a fully integrated, veterinary pharmaceutical company focused on developing, manufacturing and commercializing innovative animal health solutions. We currently manufacture and market five products for companion animals and production animals in 10 countries and augment our production animal pharmaceutical products with proprietary software platform mySYNCH®.
Comments
Related Articles
Copyright © 2025 - All Rights Reserved
ISSN 2768-198X
List
Add
Please enter a comment