PAION AG to issue approximately 4.8 million shares in capital increase with subscription rights

PAION AG / Key word(s): Capital Increase
PAION AG to issue approximately 4.8 million shares in capital increase with subscription rights

19-Oct-2023 / 20:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

              NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Ad-hoc Announcement

Inside information according to Article 17 EU Market Abuse Regulation (MAR)

PAION AG to issue approximately 4.8 million shares at EUR 1.90 per share in capital increase with subscription rights

Aachen, 19 October 2023 - The Management Board of the specialty pharmaceutical company PAION AG (ISIN DE000A3E5EG5; Frankfurt Stock Exchange, Prime Standard: PA8) has, following PAION AG’s announcement of 13 October 2023, today resolved with the approval of the Supervisory Board of the same day, to increase the Company's registered share capital against contributions in cash by partial utilization of the authorized capital with subscription rights for existing shareholders on the basis of a securities prospectus to be approved by Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) from EUR 7,133,699 by EUR 4,755,798.00 to EUR 11,889,497.00 by issuing 4,755,798 new ordinary bearer shares with no par value with a notional value of EUR 1.00 each (the “New Shares”), each with full dividend entitlement as of the fiscal year beginning 01 January 2023.

ODDO BHF SE, Frankfurt, has undertaken vis-à-vis the Company to offer the New Shares to the existing shareholders at a subscription ratio of 3:2 (indirect subscription right). This means that 3 old shares entitle the holder to subscribe for 2 new shares. The subscription price is EUR 1.90 per share. Shareholders may subscribe for the New Shares in the subscription offer during the subscription period, which is expected to commence on and including 24 October 2023 and end on and including 06 November 2023. The subscription rights to the New Shares (ISIN DE000A37FUA4/WKN A37FUA) are expected to be traded on the regulated market (XFRA Continuous Auction with Special Auction) of the Frankfurt Stock Exchange under the stock exchange symbol PA8B in the period from and including 24 October 2023 up to 01 November 2023.

For further details on the capital increase with subscription rights, please see the subscription offer provisionally planned to be published in the electronic Federal Gazette on 23 October 2023 and on the website of PAION AG (www.paion.com).

PAION will receive gross proceeds of about EUR 9 million for the capital increase with subscription rights. PAION will use the net proceeds from the capital increase for investments in its commercial infrastructure, the launch of Byfavo^® in general anesthesia in Europe, for product life cycle management and fulfillment of development obligations as well as for repayments and interest under the loan agreement with the European Investment Bank and for general corporate purposes.

End of inside information

IR contact:

Ralf Penner

SVP Investor Relations & Corporate Communications

PAION AG

Heussstrasse 25

52078 Aachen – Germany

Phone +49 241 4453-152

E-mail r.penner@paion.com

www.paion.com

Important notes:

This release contains certain forward-looking statements concerning PAION AG. These reflect the best estimates and assumptions made by the management of PAION AG as of the date of this release and involve certain risks, uncertainties and other factors. If the circumstances underlying the Company's assumptions change, actual results and actions may differ materially from those implied or expressly anticipated. In light of these risks, uncertainties as well as other factors, recipients of this publication should not place undue reliance on these forward-looking statements. PAION AG does not undertake any obligation to update or revise any such forward-looking statements to reflect future events or developments.

This publication constitutes neither an offer nor a solicitation of an offer to purchase securities in the United States of America or any other country. Neither this publication nor its contents may be relied upon in connection with any offer in any jurisdiction. The securities of PAION AG may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the "Securities Act"). The securities of PAION AG have not been and will not be registered under the Securities Act.

19-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com