Success of the capital increase with pre-emptive subscription rights

€7.3 million raised to finance the Prima System PRIMAvera pivotal study

Success of the capital increase with pre-emptive subscription rights:

€7.3 million raised to finance the Prima System PRIMAvera pivotal study

          

          
Paris, 6 July 2020 – 7.00 a.m. CET - Pixium Vision (Euronext Growth Paris - FR0011950641 - ALPIX) (“Pixium Vision” or the “Company”), a company that develops innovative bionic vision systems to enable patients with vision loss to lead more independent lives, announces the success of its capital increase with shareholders’ pre-emptive subscription rights (the “Capital Increase”), pursuant to which it raised €7.3million. As a result of the Capital Increase, 14,684,919 new shares (the “New Shares”) will be issued at a price of €0.50 per share.

Lloyd Diamond, Chief Executive Officer of Pixium Vision, stated: “We are particularly pleased with the success of this capital increase with pre-emptive subscription rights, which confirms investors’ confidence in our Company, its strategy and its project, despite the difficult market context. I would like to thank all of our historical shareholders, in particular Sofinnova and Bpifrance Participations, as well as the institutional and individual investors who participated and have thus contributed to the success of this transaction. I would like to extend a warm welcome to the new investors who have acquired a stake in Pixium Vision. Their confidence and support during this uncertain period is proof of the soundness of our Company’s strategy. This successful financing round will enable Pixium to continue the development of Prima and reach the next key milestones, in particular with respect to the PRIMAvera pivotal study.”

RESULTS OF THE CAPITAL INCREASE

At the conclusion of the subscription period, total demand (both irreducible and reducible) was for 12,734,919 New Shares, i.e. a subscription rate of approximately 81.53% of the offering, which breaks down as follows:

• 8,956,155 New Shares were subscribed for on an irreducible basis, i.e.60.99% of the New Shares to be issued; and
• 3,778,764 New Shares were subscribed for on a reducible basis, i.e. 25.73% of the New Shares to be issued. Therefore, 100% of subscription applications on a reducible basis were fulfilled; 

Plus:

      -          1,950,000 New Shares, i.e. 13.28% of the New Shares to be issued, that the Chief Executive Officer awarded to institutional investors, pursuant to his right to distribute, at his discretion, the shares not subscribed for on an irreducible and reducible basis, in accordance with article L.225-134 I. 2° of the French Commercial Code;