NOXXON ISSUES TRANCHE OF ODIRNANE BONDS

NOXXON Pharma N.V. (Euronext Growth Paris: ALNOX), a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment (TME), announced today that it has issued another 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).
The investor, YA II PN, Ltd., has received 20 Notes with a nominal value of €10,000 each and 83,682 Warrants attached whose exercise price is €2.39 each.
“NOXXON continues to seek additional investment from institutional investors,” said Aram Mangasarian, CEO of NOXXON. “As we noted in our Annual Report 2017, the company needs to raise additional capital in the near-term and we are in active discussions.”
NOXXON maintains 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 this tranche of convertible Notes into ordinary shares and a price of €1.99 per share, dilution for the existing shareholders pursuant to the conversion of this tranche of convertible Notes into ordinary shares would be approximately 3.38% assuming the issuance of 109,289 ordinary shares. More details on the can be found in Section 7 of the prospectus approved on July 10, 2017 available on the company’s website www.noxxon.com.