PAION AG TO ISSUE APPROX. 5 MILLION SHARES AT EUR 1.54 PER SHARE IN CAPITAL INCREASE WITH SUBSCRIPTION RIGHTS
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PAION AG / Key word(s): Capital Increase 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. Aachen (Germany), 19 March 2021 - The Management Board of the specialty pharmaceutical company PAION AG (PA8; ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard) ("PAION" or the "Company") has today decided with the approval of the Supervisory Board of the same day, to increase the Company's registered share capital against contribution in cash from EUR 66,241,493.00 by EUR 5,095,499.00 to EUR 71,336,992.00 by issuing 5,095,499 new, registered, no-par value shares with a notional value of EUR 1.00 each (the "New Shares"), each with full dividend entitlement as of the fiscal year beginning 1 January 2020 while granting subscription rights to existing shareholders. In addition und subject to certain terms and conditions, a U.S.-based institutional investor has committed vis-à-vis the Company and ODDO BHF Aktiengesellschaft to acquire any New Shares not subscribed for by existing shareholders or other investors in connection with the rights offering at the subscription price (backstop commitment). 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 March 2021 and on the website of PAION AG (www.paion.com). PAION will receive gross proceeds of almost EUR 8 million from the capital increase with subscription rights. Moreover, PAION will draw down the third tranche of the financing agreement with the European Investment Bank (EIB) in the amount of EUR 7.5 million. PAION will use the net proceeds from the capital increase to prepare commercial launches for its product portfolio in selected European countries and for general corporate purposes. End of inside information This release contains certain forward-looking statements concerning the future business of PAION AG. These forward-looking statements contained herein are based on the current expectations, estimates and projections of PAION AG's management as of the date of this release. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors. Should actual conditions differ from the Company's assumptions, actual results and actions may differ materially from any future results and developments expressed or implied by such forward-looking statements. Considering the risks, uncertainties and other factors involved, recipients should not rely unreasonably upon these forward-looking statements. PAION AG has no obligation to periodically update any such forward-looking statements to reflect future events or developments. This release does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of PAION AG in the United States or any other jurisdiction. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. The securities of PAION AG may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. 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. Information and Explanation of the Issuer to this News: Disclaimer: This release contains certain forward-looking statements concerning the future business of PAION AG. These forward-looking statements contained herein are based on the current expectations, estimates and projections of PAION AG's management as of the date of this release. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors. Should actual conditions differ from the Company's assumptions, actual results and actions may differ materially from any future results and developments expressed or implied by such forward-looking statements. Considering the risks, uncertainties and other factors involved, recipients should not rely unreasonably upon these forward-looking statements. PAION AG has no obligation to periodically update any such forward-looking statements to reflect future events or developments. This release does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of PAION AG in the United States or any other jurisdiction. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. The securities of PAION AG may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. 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-March-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | PAION AG |
| Heussstraße 25 | |
| 52078 Aachen | |
| Germany | |
| Phone: | +49 (0)241-4453-0 |
| Fax: | +49 (0)241-4453-100 |
| E-mail: | info@paion.com |
| Internet: | www.paion.com |
| ISIN: | DE000A0B65S3 |
| WKN: | A0B65S |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1177046 |
| End of Announcement | DGAP News Service |
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