Parnell Pharmaceuticals Holdings Ltd Announces Extension of Rights Offering

09 January 2023 | Monday | News

Parnell Pharmaceuticals Holdings Ltd (OTC Pink® Open Market: PARNF) ("Parnell") today announced the extension of the backstopped rights offering to raise gross proceeds of approximately US$4.0 million (the "Rights Offering").
Image Source : Public Domain

Image Source : Public Domain

Under the terms of the Rights Offering, Parnell is extending the expiration date to Wednesday, January 11, 2023 at 5:00 PM (Eastern Time) (subject to any limitations described in the offering circular). The Rights Offering was previously scheduled to expire on January 5, 2023 at 5:00 PM (Eastern Time). All other terms and conditions of the Rights Offering remain unchanged.


The securities described above will be offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation D promulgated thereunder and have not been registered under the Act or applicable state securities laws. Accordingly, such securities may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ("SEC") or an applicable exemption from such registration requirements.

This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law or regulation.


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