Genenta Closes Its Upsized Initial Public Offering of American Depository Shares

Genenta Science S.p.A. (Nasdaq: GNTA), a clinical-stage biotechnology company pioneering the development of hematopoietic stem progenitor cell immuno-gene therapy for solid tumors, including the lead product candidate, Temferon™, announced today the closing of its upsized initial public offering of 2.4 million American Depositary Shares (“ADSs”) at a public offering price of $11.50 per ADS. Genenta also sold 720,114 ordinary shares reserved for subscription by its existing shareholders at a price of $11.50 per share. The gross proceeds from the offering, including ordinary shares, were approximately $36 million before deducting underwriting and advisory fees and offering expenses. The shares began trading on the Nasdaq Capital Market on December 15, 2021 under the ticker symbol “GNTA”.

Roth Capital Partners acted as sole book-running manager of the offering. Maxim Group LLC acted as lead manager of the offering.

Genenta has granted the underwriters an option for a period of 30 days from the date of the final prospectus to purchase an additional 360,000 ADSs, which, if exercised, the gross proceeds from the offering will be approximately $40 million.

A Registration Statement on Form F-1 relating to these securities became effective on December 14, 2021. The offering is made only by means of a prospectus forming a part of the effective Form F-1 Registration Statement, copies of which may be obtained from Roth Capital Partners, 888 San Clemente Drive, Newport Beach, CA 92660, Attention: Equity Capital Markets at (800) 678-9147 or by email at rothecm@roth.com; or from Maxim Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.