RENX Renalytix Plc

Renalytix plc

("Renalytix" or the "Company")

Block Admission and "At The Market" Sales Agreement

LONDON and SALT LAKE CITY - 21 May 2024 - Renalytix plc (NASDAQ: RNLX) (LSE: RENX) entered into an at-the-market offering agreement with H.C. Wainwright & Co., LLC (the "Agent") on 15 May 2024 pursuant to which the Company may issue and sell from time to time, at its option, the Company's American Depositary Shares (the "ADSs", such ADSs being the "Programme ADSs"), each representing two ordinary shares nominal value £0.0025 per share of the Company (the "Ordinary Shares"), through or to the Agent, as sales agent and/or principal, for an aggregate offering price of up to $15 million (the "ATM Programme").

Any Ordinary Shares to be represented by the Programme ADSs will be allotted and issued pursuant to the resolutions adopted at the Company's general meeting on 22 April 2024 and/or any replacement resolutions to allot and issue Ordinary Shares adopted by the Company's shareholders from time to time.

The sale, if any, of the Programme ADSs will be made by any methods permitted that is deemed to be an "at-the-market" equity offering as defined in Rule 415(a)(4) promulgated under the U.S. Securities Act of 1933, as amended, including sales made directly on The Nasdaq Global Market or any other trading market for the Company's ADSs.  The Programme ADSs, if any, will be issued and sold pursuant to the Company's registration statement on Form S-3 (File No. 333-274733), which became effective on 6 October 2023 and the related prospectus supplement dated 15 May 2024, in each case filed with the U.S. Securities and Exchange Commission (the "SEC"). A copy of the registration statement and the prospectus supplement may be obtained on the SEC's website at www.sec.gov.   

Block Admission Application

Application has been made to London Stock Exchange plc for a block admission ("Block Admission") of up to 51,356,400 new Ordinary Shares which may be allotted and issued in connection with the ATM Programme. It is expected that the Block Admission will become effective on 22 May 2024.

The Block Admission, representing approximately 33% of the current issued share capital, is being made for the allotment and issue of new Ordinary Shares to be represented by the Programme ADSs. Following the Block Admission, the Company's issued share capital remains unchanged at 154,368,191 Ordinary Shares.

If and when issued, the new Ordinary Shares to be represented by the Programme ADSs will rank pari passu in all respects with the existing Ordinary Shares in the Company.

The Company will announce any issue of Ordinary Shares to be represented by the Programme ADSs from time to time, together with the number of Ordinary Shares in issue pursuant to Rule 2.9 of the City Code on Takeovers and Mergers.  Such number of issued Ordinary Shares may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company pursuant to the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and the AIM Rules for Companies (the "AIM Rules"). The Company will also make six-monthly announcements regarding the utilisation of the Block Admission in accordance with rule 29 of the AIM Rules.

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About Renalytix

Renalytix (NASDAQ: RNLX) (LSE: RENX) is an in-vitro diagnostics and laboratory services company that is the global founder and leader in the new field of bioprognosis™ for kidney health. The leadership team, with a combined 200+ years of healthcare and in-vitro diagnostic experience, has designed its KidneyIntelX laboratory developed test to enable risk assessment for rapid progressive decline in kidney function in adult patients with T2D and early CKD (stages 1-3). We believe that by understanding how disease will progress, patients and providers can take action early to improve outcomes and reduce overall health system costs. For more information, visit www.renalytix.com.