Yumanity Therapeutics Inc. announced that it has entered into subscription agreement for a private placement of 29,217,384 shares of par value, $0.001 at a price of $1.15 per share for gross proceeds of $33,599,991.6 co-led by The Invus Group, LLC and returning investor, Fidelity Management & Research Company LLC on December 14, 2020. The transaction will also include participation from Sphera Biotech, Stonepine Capital Management LLC, Altium Capital Management LP, Ikarian Capital, LLC and Maven Investment Partners US Limited, Investment Arm. The transaction is subject to approval of shareholders in a special meeting to be held on on December 16, 2020, to December 22, 2020, contingent upon certain conditions, including closing of the reverse merge of company that was announced in August 2020. The company will pay all reasonable fees and disbursements of one legal counsel as selected by the investors, in an amount not to exceed $25,000 in the aggregate during the term of the agreement. The shares are restricted and are being sold pursuant to Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws. The closing of transaction is expected to occur immediately following the consummation of reverse merger. On December 16, 2020, the company announced that the company has adjourned its special meeting of shareholders to December 22, 2020, in order to provide shareholders sufficient time to consider new information pertaining to the transaction.