• 1 new share for every 4 existing shares held
• Offer price of $1.25 per new share
• Proceeds to fund late-stage trials, drug discovery, and general operations

PYC Therapeutics Ltd is conducting a 1-for-4 accelerated non-renounceable pro-rata entitlement offer to raise approximately $145.8 million. The offer price is $1.25 per new share, representing a 2.7% discount to the last traded price and a 2.2% discount to the theoretical ex-rights price. The proceeds from the offer will be used to progress PYC's first blinding eye disease drug candidate into late-stage human trials, progress the second blinding eye disease drug candidate into mid-stage human trials, progress the polycystic kidney disease drug candidate through early-stage human trials, support the progression of the Phelan-McDermid Syndrome drug program into human trials, further drug discovery and platform development efforts, and cover general working capital and offer costs. The institutional component of the entitlement offer has already been successfully completed, raising approximately $91 million. The retail component is fully underwritten, meaning PYC will raise the full $145.8 million under the offer. Eligible retail shareholders may also apply for additional new shares under a top-up facility.

The proceeds from the entitlement offer will be used to advance PYC's drug pipeline, including progressing the company's first blinding eye disease drug candidate into late-stage human trials, the second blinding eye disease drug candidate into mid-stage human trials, and the polycystic kidney disease drug candidate through early-stage human trials.