Allergy Therapeutics PLC has published an Open Offer Circular, which is available to qualifying shareholders on the company's website. The circular relates to the Open Offer, which was previously underwritten by ZQ Capital through its affiliate SkyGem Acquisition. The Open Offer allows qualifying shareholders to subscribe for additional shares at an issue price of 1 pence per ordinary share. The circular provides details of the Open Offer timetable.

In addition, Allergy Therapeutics has entered into an amendment to an existing Facility Agreement with Southern Fox and SkyGem Acquisition. The amendment, called the Extension Facility, allows the company to access an additional total principal sum of up to £15 million on an uncommitted basis. The Extension Facility must be repaid in full by December 31, 2025. To provide security for any amounts drawn under the Extension Facility, the existing security package under the Facility Agreement will remain in place, and an additional security will be granted.

The Extension Facility is considered a related party transaction, as Southern Fox and ZQ Capital, along with its affiliates, are substantial shareholders of Allergy Therapeutics. The directors of the company, who are independent of the Facility and the Extension Facility, have deemed the terms of the Extension Facility to be fair and reasonable for the company's shareholders.

The Open Offer timetable includes the announcement of the transaction and the satisfaction of the final outstanding FDI Clearance Condition on April 6, 2023, and September 22, 2023, respectively. The record date for entitlement under the Open Offer is September 25, 2023, and the publication of the Circular and the Application Form is on September 27, 2023. The ex-entitlement date of the Open Offer is set for 8:00 a.m. on September 28, 2023.