On April 5, 2023, allosteric modulation company Addex Therapeutics Ltd in Plan-les-Ouates, Geneva (SIX: ADXN) announced that it has completed an equity financing transaction with a healthcare-focused institutional investor, pursuant to which Addex agreed to sell 7,999,998 shares in the form of 1,333,333 American Depositary Shares («ADSs») at a gross purchase price of USD 0.95 per ADS, which is equivalent to CHF 0.145 per share. Each ADS represents six shares. Additionally, Addex has issued to the investor ordinary warrants to purchase up to 5,263,158 ADSs, as well as pre-funded warrants to purchase up to 3,929,825 ADSs in a concurrent private placement.

Addex also entered into warrant repricing transactions with the investor, according to which the terms of previously issued warrants were amended, reducing in particular their exercise prices to USD 1 per ADS.

The gross proceeds to Addex, before deducting offering expenses, are USD 5 m. Addex intends to use the net proceeds from this offering to advance its portfolio of drug candidates and for general corporate purposes.

Homburger advised Addex in this transaction. The Homburger team comprised Frank Gerhard and Romain Fakhoury (both Corporate / M&A).

Contact

Nanding Susso / Marketing / [email protected]

April 5, 2023