NOXXON issues first tranche of ODIRNANE bonds

(PresseBox) ( Berlin, )
NOXXON Pharma N.V. (EuroNext Growth Paris: ALNOX), a biotechnology company, which focuses on improving cancer treatment by targeting the tumor microenvironment, announced today that it has, as planned, issued the first tranche of the ODIRNANE bonds (undated bonds convertible into new shares and/or exchangeable for existing shares and/or redeemable in cash, the “Notes”, with BSA share warrants, the “Warrants” attached) and completed all necessary steps to issue shares and warrants to Kreos as part of the previously announced debt conversion.

The investor, YA II PN, Ltd., has received 100 Notes with a nominal value of €10,000 each and 53,763 Warrants attached whose exercise price is €18.60 each.

Conversion of approximately €841,000 of Kreos Debt into ordinary shares will occur at a price per share equal to €15.50 per share issued yielding 54,263 ordinary shares. Kreos will also receive 45,219 share subscription warrants with an exercise price of €18.60 each. These share subscription warrants will have the same characteristics (other than the exercise price) as the BSA share warrants attached to the ODIRNANE bonds.

NOXXON will maintain an updated summary table of ODIRNANE tranches issued as well as the status of issued bonds and warrants in the investors’ section of its website www.noxxon.com.

Assuming immediate conversion of the first tranche of convertible Notes into ordinary shares and a price of €16.50 per share, dilution for the existing shareholders pursuant to the conversion of the first tranche of convertible Notes into ordinary shares would be approximately 2.99% assuming the issuance of 65,876 ordinary shares. More details can be found in Section 7 of the prospectus approved on July 10, 2017 available on the company’s website www.noxxon.com.

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Certain statements in this communication contain formulations or terms referring to the future or future developments, as well as negations of such formulations or terms, or similar terminology. These are described as forward-looking statements. In addition, all information in this communication regarding planned or future results of business segments, financial indicators, developments of the financial situation or other financial or statistical data contains such forward-looking statements. The company cautions prospective investors not to rely on such forward-looking statements as certain prognoses of actual future events and developments. The company is neither responsible nor liable for updating such information, which only represents the state of affairs on the day of publication.
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