DGAP-News: PAION AG / Key word(s): Capital Increase PAION COMPLETES PRIVATE PLACEMENT IN THE AMOUNT OF EUR 9.6 MILLION 29.06.2016 / 15:02 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- PAION COMPLETES PRIVATE PLACEMENT IN THE AMOUNT OF EUR 9.6 MILLION Aachen (Germany), 29 June 2016 - PAION AG, a specialty pharma company (ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8), announces, that it has completed its previously announced private placement in connection with the Remimazolam U.S. license agreement with Cosmo Pharmaceuticals N.V. ("Cosmo"). On 24 June 2016, Granell Strategic Investment Fund Limited ("Granell"), a subsidiary of Cosmo, entered into an investment agreement with PAION AG, pursuant to which Granell has committed to invest EUR 10 million in shares of PAION AG. In this context, PAION AG resolved to issue 5,064,194 new shares at a price of EUR 1.90 per share (5-day VWAP) for a total of EUR 9.6 million to Granell under exclusion of shareholders' subscription rights. The capital increase was entered in the commercial register on 28 June 2016. The new shares are expected to be admitted to trading on the Frankfurt Stock Exchange in the course of July and remain subject to a 12- month lock-up period. The remaining amount of EUR 0.4 million will be invested at a later date. The private placement was handled by ODDO SEYDLER BANK AG as global coordinator. ### About PAION PAION AG is a publicly listed specialty pharmaceutical company headquartered in Aachen (Germany) with further sites in Cambridge (United Kingdom) and New Jersey (USA). PAION's lead substance, remimazolam, is an intravenous ultra-short-acting benzodiazepine sedative/anesthetic currently in Phase III clinical development for procedural sedation. Remimazolam is designed to complement and improve currently available treatment options for patients requiring sedation and anesthesia. PAION is focusing its clinical development activities on remimazolam according to PAION's vision to become an acknowledged "PAIONeer" in sedation and anesthesia. For more information please visit www.paion.com. PAION 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. --------------------------------------------------------------------------- 29.06.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- 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: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News Service --------------------------------------------------------------------------- 475641 29.06.2016
DGAP-News: PAION COMPLETES PRIVATE PLACEMENT IN THE AMOUNT OF EUR 9.6 MILLION
| Source: EQS Group AG