News December 23 2018

Pixium Vision establishes a new equity line financing with Kepler Cheuvreux

Pixium Vision (FR0011950641 – PIX), a bioelectronics company developing innovative bionic vision systems to enable patients who have lost their sight to lead more independent lives, today announces a new equity line financing facility with Kepler Cheuvreux, since the previous one was fully exercised.

The Company plans to maintain its financial flexibility in addition to its cash position of €18.4 million. Pixium Vision’s Chief Executive Officer, acting pursuant to the powers delegated to him by the Board of Directors held on December 21, 2018 and in accordance with the 20th resolution of the annual General Assembly of the shareholders held on June 27, 2018, have decided to put in place this equity line financing.

Pursuant to the terms of the agreement, Kepler Cheuvreux gave a full and firm commitment to subscribe to 3,000,000 shares (representing, for information purposes, an estimated issued capital of €5.0 million), at its own initiative over a timeframe not exceeding 24 months, provided that the contractual conditions are fulfilled. The shares will be issued based on the volume-weighted average price of the two trading days preceding each issuance, minus a maximum discount of 6%. Pixium Vision retains the option of suspending or terminating this agreement at any time.

Assuming the equity line facility were to be used in full, a shareholder owning 1.00% of Pixium Vision’ share capital prior to the transaction would see a reduction in his/her shares to 0.88% on a non-diluted basis.

The number of shares issued pursuant to this agreement and admitted to trading will be announced on Euronext notices as well as on Pixium Vision’s website.

The announced equity line does not require issuing a prospectus subject to the visa of AMF.