Tiziana Life Sciences plc (NASDAQ: TLSA) today announced it has entered into definitive agreements with investors for the purchase and sale of 11,009,615 of the Company’s American Depositary Shares (“ADSs”) at a price of $5.20 per ADS pursuant to a registered direct offering (the "Offering"). Each ADS offered represents two ordinary shares of nominal value £0.03 each ("Ordinary Shares"), following the recent forward split of the ADSs which became effective on 31 July 2020. The gross proceeds of the Offering will be approximately $57.25 million, before deducting placement agent fees and other estimated offering expenses. The number of Ordinary Shares represented by ADSs comprised in the offering will be within existing shareholder authorities.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole placement agent for the Offering.

The closing of the Offering is expected to occur on August 5, 2020, subject to customary closing conditions.

Application has been to made to admit the 22,019,230 Ordinary Shares to be issued in the Offering, in the form of ADSs, to trading on AIM. Admission is expected to become effective at 8.00 am on August 7, 2020.

Tiziana intends to use the net proceeds received from this Offering (i) to advance the clinical development of Foralumab, (ii) to initiate a trial in HCC patients with Milciclib, (iii) to expedite clinical development of TZLS-501 for coronavirus COVID-19, and for working capital and other general corporate purposes.

Tiziana’s Ordinary Shares are admitted to trading on AIM, a market of the London Stock Exchange plc (“AIM”), under the symbol "TILS". The ADSs are listed for trading on the Nasdaq Global Market under the symbol “TLSA”. Tiziana recently announced its intention to seek admission of its Ordinary Shares to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange plc to more closely align with its status as an international, cross-border issuer.