Company: ENTXW
Filing Date: 2025-05-30
Form Type: S-3
Source: 0001178913-25-002025
Chunk: 45

Company: Entera Bio Ltd.
Filing Date: 2025-05-30
Form: S-3
Chunk 45
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 this offering. Our net tangible book value as of March 31, 2025 was $19.4 million, or $0.43 per ordinary share, based on 45,420,677 ordinary shares then outstanding. After giving effect to the assumed sale by us of 30,000,000 our ordinary shares at an assumed public offering price of $1.835 per share (the closing price of our ordinary shares on May 28, 2025 as reported on Nasdaq), less the estimated commissions and estimated offering expenses payable by us, our adjusted net tangible book value at March 31, 2025 would have been $72.7 million, or $0.96 per ordinary share. This represents an immediate increase in net tangible book value of $0.53 per share to existing shareholders and an immediate dilution of $0.875 per share to new investors in this offering. The following table illustrates this per share dilution.

| Assumed public offering price per share                                            |     |   |      |     | $ | 1.835 |
| Net tangible book value per share as of March 31, 2025                             |     | $ | 0.43 |     |   |       |
| Increase in net tangible book value per share after giving effect to this offering |     | $ | 0.53 |     |   |       |
| Adjusted net tangible book value per share after giving effect to this offering    |     |   |      |     | $ |  0.96 |
| Dilution per share to new investors                                                |     |   |      |     | $ | 0.875 |

The as adjusted information is illustrative only and will vary based on the actual sale price to the public, the actual number of shares sold and other terms of the offering determined at the time our ordinary shares are sold pursuant to this prospectus. The shares sold in this offering, if any, will be sold from time to time at various prices. The above is based on our actual ordinary shares outstanding as of March 31, 2025 and excludes:

| • | 7,795,198 of our ordinary shares issuable upon the exercise of options outstanding as of March 31, 2025, at a weighted average exercise price of $2.38 per ordinary share; |

| • | 186,936 of our ordinary shares issuable upon the exercise of restricted share units outstanding as of March 31, 2025; |