DGAP-News: PAION AG SUCCESSFULLY COMPLETES PLACEMENT OF NEW SHARES

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| Source: EQS Group AG
DGAP-News: PAION AG / Key word(s): Capital Increase
PAION AG SUCCESSFULLY COMPLETES PLACEMENT OF NEW SHARES

07.07.2014 / 16:03

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THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

PRESS RELEASE

PAION AG SUCCESSFULLY COMPLETES PLACEMENT OF NEW SHARES 

  - Final subscription rate of 97.67% 

  - New shares not subscribed for placed today via an accelerated bookbuilt
    offering to institutional investors

  - In total 18,505,305 shares were placed at a subscription price of EUR
    2.50

Aachen (Germany), 07 July 2014 - The specialty pharma company PAION AG
(ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8) announced
today that 18,074,183 new shares were subscribed for, corresponding to a
final subscription rate of 97.67%.

431,122 new shares not subscribed for were placed today with institutional
investors by way of an accelerated bookbuilt offering. Therefore in total
all 18,505,305 shares offered were placed.

PAION will receive gross proceeds of EUR 46.26 million. 

New shares subscribed for in the subscription offer and the accelerated
bookbuilt offering are expected to be booked to the securities accounts
from 11 July 2014.

Dr. Wolfgang Söhngen, CEO of PAION commented: "We would like to thank our
shareholders and new investors for their great trust and support for the
upcoming tasks.  Obviously, we have succeeded in conveying the potential of
our lead program Remimazolam in a convincing way. A fair subscription price
and the possibility of trading in subscription rights have also led to
strong demand for the new shares and thus to a successful capital increase.
We will now focus on the Phase III programs in the US and EU."

More information on the capital increase of PAION
It is planned to increase the Company's registered share capital pursuant
to the Annual General Meeting resolution dated 21 May 2014 from EUR
30,842,178.00 by up to EUR 18,505,305.00 to up to EUR 49,347,483.00 through
the issue of up to 18,505,305 new no par value bearer shares, each with a
notional value of the Company's share capital of EUR 1.00 per share. The
new shares will be issued at a minimum share price (Ausgabebetrag) of EUR
1.00 per share. The new shares carry full dividend rights from January 1,
2014.

New shares have been offered at a subscription ratio of 5:3. The
subscription price was EUR 2.50 per share. Shareholders could subscribe to
the new shares during the subscription period in the rights offering,
beginning on 20 June 2014 at 00:00 midnight CEST and ended on 04 July 2014
at 24:00 midnight CEST.

The net proceeds from the offering shall be used primarily for the further
development of Remimazolam in the US and the EU. For the completion of the
Phase III programs PAION currently anticipates, subject to further
consultations with the regulatory authorities, costs in the amount of
approximately EUR 20-25 million for the US and approximately EUR 15-20
million for the EU. Remaining proceeds from the capital increase in the
amount of approximately EUR 5-10 million could be invested in premarketing
activities.

In this transaction, Close Brothers Seydler Bank AG (Germany) acts as the
Sole Global Coordinator and Bookrunner Blättchen Financial Advisory GmbH
acts as advisor to PAION on the transaction.

For more information: http://capital.paion.com

###

About PAION
PAION AG is a publicly-listed Specialty Pharma Company headquartered in
Aachen, Germany with a second site in Cambridge, UK. The company has a
track record in developing hospital-based treatments for which there is
substantial unmet medical need. PAION AG is transforming its business model
from a pure development company to a specialty pharmaceutical company with
a focus on anaesthesia products to take advantage of the unique profile of
its main compound, Remimazolam.

Contact
Ralf Penner
Director Investor Relations / Public Relations
PAION AG
Martinstrasse 10-12
52062 Aachen - Germany
Phone: +49 241 4453-152
E-mail: r.penner@paion.com
www.paion.com 

Disclaimer:

This release contains certain forward-looking statements concerning the
future business of PAION AG. These forward-looking statements contained
herein are based on the current expectations, estimates and projections of
PAION AG's management as of the date of this release. They are subject to a
number of assumptions and involve known and unknown risks, uncertainties
and other factors. Should actual conditions differ from the Company's
assumptions, actual results and actions may differ materially from any
future results and developments expressed or implied by such
forward-looking statements. Considering the risks, uncertainties and other
factors involved, recipients should not rely unreasonably upon these
forward-looking statements. PAION AG has no obligation to periodically
update any such forward-looking statements to reflect future events or
developments.

This release does not constitute an offer of securities for sale or a
solicitation of an offer to purchase securities of PAION AG in the United
States, Germany or any other jurisdiction. Neither this announcement nor
anything contained herein shall form the basis of, or be relied upon in
connection with, any offer or commitment whatsoever in any jurisdiction.
The offer is made exclusively by and on the basis of the securities
prospectus that was published following approval by the German Financial
Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht).
This prospectus is published on PAION AG's website and free-of-charge
copies are, inter alia, available at the premises of PAION AG
(Martinstrasse 10-12, 52062 Aachen, tel.: +49 241 4453-0). The securities
of PAION AG may not be offered or sold in the United States absent
registration or an exemption from registration under the U.S. Securities
Act of 1933, as amended (the "Securities Act"). The securities of PAION AG
have not been, and will not be, registered under the Securities Act.

In the United Kingdom, this document is only being distributed to and is
only directed at persons who (i) are investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are
persons falling within Article 49(2)(a) to (d) of the Order (high net worth
companies, unincorporated associations, etc.) (all such persons together
being referred to as "Relevant Persons"). This document is directed only at
Relevant Persons and must not be acted on or relied on by persons who are
not Relevant Persons. Any investment or investment activity to which this
document relates is available only to Relevant Persons and will be engaged
in only with Relevant Persons.


End of Corporate News

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07.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
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Language:    English                                               
Company:     PAION AG                                              
             Martinstr. 10-12                                      
             52062 Aachen                                          
             Germany                                               
Phone:       +49 (0)241-4453-0                                     
Fax:         +49 (0)241-4453-100                                   
E-mail:      info@paion.com                                        
Internet:    www.paion.com                                         
ISIN:        DE000A0B65S3                                          
WKN:         A0B65S                                                
Listed:      Regulierter Markt in Frankfurt (Prime Standard);      
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München,  
             Stuttgart                                             
 
 
End of News    DGAP News-Service  
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