DGAP-Adhoc: PAION AG PLANS TO ISSUE UP TO 2.5 MILLION

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News Desk 2018

Jan 15, 2014 at 8:15 PM

DGAP-Adhoc: PAION AG PLANS TO ISSUE UP TO 2.5 MILLION SHARES IN A PRIVATE PLACEMENT

PAION AG / Key word(s): Capital Increase 16.01.2014 01:54 Dissemination of an Ad hoc announcement according to Â§ 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. AD-HOC ANNOUNCEMENT ACCORDING TO Â§15 WPHG PAION AG PLANS TO ISSUE UP TO 2.5 MILLION SHARES IN A PRIVATE PLACEMENT - U.S. institutional investor Capital Ventures International commits to immediately invest EUR 3.0 million with the option to subscribe for new shares resulting in proceeds up to a total amount of EUR 6.0 million in a private placement Aachen (Germany), 16 January 2014 - PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange General Standard: PA8) announced that the Company plans to issue in the coming weeks up to a total of 2,536,077 new shares in a private placement under exclusion of subscription rights of the shareholders. US institutional investor Capital Ventures International has the option to subscribe until 14 February 2014 for new shares resulting in proceeds up to a total amount of EUR 6.0 million in this private placement. As a new commitment and a first step Capital Ventures International has agreed today to immediately invest half of the amount of EUR 6.0 million, i.e. EUR 3.0 million. The price per share amounts to EUR 2.4079 calculated based on a daily volume weighted average share price (VWAP) over the last ten days before 15. January 2014 for PAION shares in XETRA trading on the Frankfurt Stock Exchange less a discount of 5%. Thus, Capital Ventures International will acquire 1.25 million shares in the first step. Furthermore, until 14 February 2014 Capital Ventures International has the right to buy shares up to the remaining proceeds of EUR 3.0 million. If Capital Ventures International invests less than a total of EUR 6 million, the company has the right to place the remaining shares with other investors. The potential total proceeds from the private placement of up to approximately EUR 6.0 million together with the gross issue proceeds of EUR 4.99 million from the rights offering will further improve PAION's financial leeway. The proceeds from the transaction will be used mainly for the preparation of the Remimazolam Phase III development program. Specifically it is intended to use the funds to produce the study medication and validate the production at market scale. ### About PAION PAION AG is a publicly-listed biotech 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 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 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. 16.01.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and 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: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, DÃ¼sseldorf, Hamburg, MÃ¼nchen, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------

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