EQS-News

Newron enters into an agreement for the subscription of up to 2.05 million newly issued shares; Proceeds of up to EUR 15.0 million

EQS-News: Newron Pharmaceuticals S.p.A. / Key word(s): Financing  Newron enters into an agreement for the subscription of up to 2.05 million newly issued shares; Proceeds of up to EUR 15.0 million  14.03.2024 / 18:32 CET/CEST The issuer is solely responsible for the content of this announcement.  Newron enters into an agreement for the subscription of up to 2.05 million newly issued shares

Proceeds of up to EUR 15.0* million 

Milan, Italy, March 14, 2024, 17:45 CET – Newron Pharmaceuticals S.p.A. (“Newron”, or the “Company”) (SIX: NWRN, XETRA: NP5), a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central and peripheral nervous system (CNS), announces that it has entered into a subscription agreement for the subscription of up to 2.05 million newly issued shares with an institutional investor focused on investing in high-growth firms across sectors including biotech and healthcare.

Under the agreement, the fund subscribes to an initial 750,000 newly issued shares at a subscription price of EUR 7.33 per share, which corresponds to gross proceeds of approximately EUR 5.5 million. In addition, the fund has a right to subscribe to an additional up to 1,300,000 newly issued shares until no later than January 31, 2025, at a subscription price to be calculated pursuant to an agreed formula. The share subscriptions are governed by the capital increase authorised by Newron’s shareholders in 2018 and approved and empowered by the Company’s board of directors in 2023.

“The investment by this specialist institutional fund is a validation of our strategy to develop innovative CNS therapies,” said Roberto Galli, CFO of Newron. “The funds raised are expected to support our activities well beyond the current key value inflection points in our pipeline.”

The initial 750,000 newly issued shares are expected to be listed and traded on the SIX Swiss Exchange under the same ISIN as the Company’s existing shares (ISIN: IT0004147952) on or around March 20, 2024, upon payment and settlement. Furthermore, the new shares are expected to be listed and traded on the Primärmarkt of the Düsseldorf Stock Exchange, as well as traded on the Quotation Board of the Frankfurt Stock Exchange (Xetra).