He Qualifying Shareholders As Of 5 00 Pm Eastern Time News Today : Breaking News, Live Updates & Top Stories | Vimarsana

SYDNEY, Dec. 7, 2022 /PRNewswire/ Parnell Pharmaceuticals Holdings Ltd (OTC Pink Open Market: PARNF) ("Parnell") today commenced its previously announced backstopped rights offering to raise gross proceeds of approximately US$4.0 million (the "Rights Offering"). Under the terms of the Rights Offering, at no charge, the qualifying shareholders as of 5:00 PM (Eastern Time), on December 6, 2022 (the "Record Date"), of Parnell's fully paid ordinary shares of common stock ("Ordinary Shares") are entitled to exercise their subscription rights to purchase their pro rata share of the US$4.0 million offering amount, as more fully described in the offering circular (the "Offering Circular") issued in connection with the Rights Offering. Each subscription right may be exercised to purchase 1.8585 Ordinary Shares at a subscription price equal to US$0.075 per share. No fractional shares will be issued. The subscription rights may be exercised ....

United States , New South Wales , Prnewswire Parnell Pharmaceuticals Holdings Ltd , Exchange Commission , Parnell Pharmaceuticals Holdings Ltd , Pharmaceuticals Holdings Ltd , Rights Offering , Eastern Time , Offering Circular , Ordinary Shares , Securities Act , Dec 7 , 022 Prnewswire Parnell Pharmaceuticals Holdings Ltd Otc Pink Open Market Parnf Quot Today Commenced Its Previously Announced Backstopped Rights Offering To Raise Gross Proceeds Of Approximately Us 4 0 Million The Under Terms , T No Charge , He Qualifying Shareholders As Of 5 00 Pm Eastern Time , On December 6 , 022 The Quot Record Date , F Parnell 39s Fully Paid Ordinary Shares Of Common Stock Quot Are Entitled To Exercise Their Subscription Rights Purchase Pro Rata Share The Us 4 0 Million Offering Amount , S More Fully Described In The Offering Circular Quot Issued Connection With Rights Each Subscription Right May Be Exercised To Purchase 1 8585 Ordinary Shares Ata Price Equal Us 0 075 Per Share No Fractional Will At Any Time During Period Of December 6 , 022 Through 5 00 Pm Eastern Time , N January 5 , 023 The Quot Expiration Date Subject To Any Extension Or Cancellation On Terms Of Offering Circular Rights Will Be Fully Backstopped By Existing Investor Dw Healthcare Partners V , Lp And Dw Healthcare Affiliates V , Lp Collectively , Uot Dw Healthcare Partners Quot Has Agreed To Purchase All The Ordinary Shares That Have Not Been Validly Subscribed For By Other Holders , Ubject To The Terms And Conditions Of Backstop Agreement Which Is More Fully Described In Offering Circular Parnell Reserves Right Modify ,