IMPLANET Specifies the Terms of Its Planned Capital Increase

Regulatory News:

IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME equity savings plans), a medical technology company specializing in implants for orthopedic surgery and the distribution of technological medical equipment, hereby specifies the terms for setting the price of its upcoming capital increase.

As announced in the press release of September 28, 2023, in the coming months the Company is planning to launch an operation to raise between €5.5 million and €6.6 million (excluding the possible exercise of a maximum 15 % extension option).

This operation would take the form of a capital increase by issue with preferential subscription rights open to all shareholders within the framework of the granting of a new authorization to be sought from shareholders at a General Meeting to be held on November 16, 2023, which will take place in January 2024, once the various conditions precedent have been met.

As a reminder, Shanghai Sanyou Medical Co., Ltd, which holds a 41.03% stake in IMPLANET’s capital via its subsidiary Sanyou (HK) International Medical Holding Co., Ltd (together: “Sanyou Medical”) had pledged, should such an operation be implemented, to subscribe to the capital increase in cash on an irreducible and reducible basis to the tune of €5 million subject to (i) the approval of Sanyou Medical’s Board of Directors, (ii) obtaining a prior waiver from the AMF French stock market authority of the obligation to file a public tender offer (in accordance with the provisions of articles 234-8 and 234-9, 2° of the AMF’s General Regulations) in the event of a post-transaction crossing of the 50% capital or voting rights threshold and (iii) the approval of the relevant Chinese government authorities¹.

Sanyou Medical has also asked to be granted the majority of directorships on the Company's Board of Directors as from the completion of its subscription.

At its meeting of October 27, 2023, IMPLANET’s Board of Directors specified the terms for setting the price of the capital increase. The issue price will thus be defined on the basis of a market value that is the lowest of:

- IMPLANET’s closing share price during the trading session immediately preceding the date of the Company’s Board Meeting held to approve the launch the operation; and
- the volume weighted average price (VWAP) over the 20 trading sessions immediately preceding the date of the Company’s Board Meeting held to approve the launch the operation.