Immunotech Biopharm's rights issue raises HK$251.88m net

Immunotech Biopharm Ltd announced the successful completion of its rights issue, which was oversubscribed by 422.71%. The company received 13 valid acceptances for 92,175,828 rights shares and 8 valid applications for 445,784,230 excess rights shares. In aggregate, 537,960,058 rights shares were applied for, representing approximately 522.71% of the 102,916,800 rights shares offered.

The gross proceeds from the rights issue amounted to approximately HK$257.29m, with net proceeds estimated at HK$251.88m after deducting professional fees and other expenses. The rights issue became unconditional at 4:00 p.m. on Thursday, November 6, 2025.

Following the rights issue, adjustments were made to the company's financial instruments. The conversion price of the outstanding RMB300m convertible bonds was adjusted from HK$4.81 to HK$4.425 per conversion share, increasing the issuable shares from 68,493,150 to 74,452,441. Additionally, the exercise price of the Pre-IPO Share Options was adjusted from HK$5.5 to HK$5.097 per share, with the number of issuable shares increasing from 9,150,000 to 9,872,850.