Success of the capital increase with pre-emptive subscription rights

€7.3 million raised to finance the Prima System PRIMAvera pivotal study - Seite 2

Thus allowing a subscription for a total of 14,684,919 New Shares, representing a subscription rate of more than 94% of the offering.

             

In accordance with their subscription commitments, Sofinnova Partners and Bpifrance Participations, the Company’s historical shareholders, have participated in the Capital Increase on an irreducible and reducible basis for a total amount of € 2.6 million.

Because the subscriptions on an irreducible and reducible basis totalled over 75% of the offering, the guarantee commitments made by the Guarantors, who had undertaken to subscribe for the New Shares that were not subscribed at the end of the subscription period, for a maximum amount of €3.3 million and up to the limit of 75% of the total amount of the offering, were not activated.

USE OF THE PROCEEDS OF THE CAPITAL INCREASE

As announced in the press release issued on 12 June 2020, the proceeds of the Capital Increase are intended to provide the Company with additional resources to continue the clinical development of its Prima System, which has recently showed extremely promising results in patients equipped with the new PRIMA 2 transparent glasses. In particular, the Company is preparing the PRIMAvera pivotal study, which will begin late this year or in the first half of 2021. PRIMAvera should be able to provide the safety and efficacy data necessary to market this device. Finally, the Company is also exploring the possibility of conducting the PRIMAvera study in parallel in Europe and the United States.

IMPACT OF THE CAPITAL INCREASE ON THE SHAREHOLDER STRUCTURE

The table below presents a breakdown of the share capital before and after completion of the Capital Increase, based on the Company’s knowledge.

	Before completion of the Capital Increase		After completion of the Capital Increase
	Theoretical number of shares and voting rights	Theoretical % of share capital and voting rights	Theoretical number of shares and voting rights	Theoretical % of share capital and voting rights
Sofinnova Capital VII	4,037,048	14.91%	6,637,048	15.89%
Innobio	2,134,094	7.88%	2,134,094	5.11%
Bpifrance Participations	1,416,250	5.23%	4,016,250	9.62%
Bpifrance concert	3,550,344	13.11%	6,150,344	14.73%
Abingworth Holdings Sàrl	2,086,720	7.71%	2,086,720	5.00%
Omnes Capital concert	1,436,794	5.31%	1,436,794	3.44%
Bernard Gilly	159,236	0.59%	159,236	0.38%
Treasury shares	83,575(1)	0.31%	79,147(2)	0.19%
Free float	15,721,685	58.07%	25,211,032	60.37%
TOTAL	27,075,402	100%	41,760,321	100%

(1) Non-voting treasury shares held by the Company at 31 May 2020.