RenalytixAI Announces Over Allotment Option Exercise Raises an Additional US$10.9 Million

Renalytix AI plc, an artificial intelligence-enabled in vitro diagnostics company, focused on optimizing clinical management of kidney disease to drive improved patient outcomes and lower healthcare costs, announces that the underwriters of its global offering of new ordinary shares, comprising American Depositary Shares (“ADSs”) and ordinary shares, have exercised, in part, their over-allotment option.

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The underwriters have elected to purchase an additional 806,750 ADSs at the Global Offering price of US$13.50 per ADS, raising approximately an additional US$10.9 million in gross proceeds for the Company and bringing the total gross proceeds of the Global Offering to approximately US$85.1 million (equivalent to approximately £67.8 million at the exchange rate used in the Global Offering prospectus). Following the partial exercise of the over-allotment option, the total number of ADSs sold by RenalytixAI in the Global Offering has increased to 6,291,750.

All of the ADSs in the Global Offering were sold by RenalytixAI and are trading on the Nasdaq Global Market under the symbol “RNLX”. RenalytixAI’s ordinary shares are admitted to trading on the AIM market of London Stock Exchange plc (“AIM”) under the symbol “RENX”. Each ADS represents two ordinary shares of RenalytixAI.

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J.P. Morgan and Stifel acted as joint global coordinators and joint book-running managers for the Global Offering.

Application has been made for the 1,613,500 new ordinary shares in the Company issued by RenalytixAI pursuant to the partial exercise of the over-allotment option, represented by the 806,750 ADSs, to be admitted to trading on AIM and it is expected that admission will become effective and dealings in the new ordinary shares will commence at 8:00 a.m. (BST) on 29 July 2020. The 1,613,500 new ordinary shares issued by RenalytixAI pursuant to the partial exercise of the over-allotment option will be credited as fully paid and rank pari passu in all respects with the existing ordinary shares.

Following the partial exercise of the over-allotment option, the issued share capital of RenalytixAI is 72,029,634 ordinary shares and this figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, RenalytixAI, under the Disclosure Guidance and Transparency Rules published by the Financial Conduct Authority.

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