Results of Placing

Arecor Therapeutics plc (AIM: AREC), a clinical-stage biotech company developing superior therapeutics that can reduce treatment burden and improve outcomes for people living with diabetes, obesity and other cardiometabolic diseases, is pleased to announce that, following the announcement made earlier today (the Launch Announcement) regarding the launch of the proposed placing (the Placing), it has successfully conditionally placed 7,352,941 new ordinary shares of 1 penny each in the capital of the Company (the Placing Shares) at a price of 68 pence per share (the Issue Price) to certain institutional and other professional investors, raising gross proceeds of approximately £5.0 million.

A separate announcement will be made shortly by the Company in relation to the Retail Offer and shall include its terms and timetable. For the avoidance of doubt, the Retail Offer is not part of the Placing, and the Placing is not conditional upon the Retail Offer or the admission of the Retail Offer Shares.

Sarah Howell, Chief Executive Officer of Arecor, commented:

“We are pleased with the strong support from our existing shareholders and new investors in this fundraise. This additional capital will further strengthen our balance sheet as we continue our expanded, advanced-stage negotiations with multiple insulin pump companies, extend our cash runway to December 2027 and provide funding to commit to critical-path insulin development activities, delivering key value inflection points over the coming year. We would like to thank our shareholders, both existing and new, for their continued support and confidence in the business.”

Admission & dealings

The Placing Shares, when issued, will be fully paid and will rank pari passu in all respects with the Existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM (Admission). Settlement and Admission for the Placing Shares is expected to take place on or before 8.00 a.m. on 6 October 2026 (or such later time and/or date as SCM Securities may agree with the Company, being not later than 8.00 a.m. on 23 October 2026).

The Placing remains conditional upon, among other things, Admission becoming effective and the Placing Agreement becoming unconditional in respect of the Placing and not having been terminated in accordance with its terms.