- Bridge financing: 3 million Euro convertible shareholders’ loan from
Bpifrance andSofinnova to extend cash runway to the end ofNovember 2023 - Publication of half-year financial statements postponed to September 2023
- Reverse stock split: implementation of a reverse stock split process - allocation of 1 new ordinary share with a par value of 1 Euro for 50 existing ordinary shares with a par value of 0,02 Euro
- First trading day for post-reverse stock split: Thursday,
September 21, 2023 - Resumption of the right to exercise all the securities giving access to
Pixium Vision's share capital as from Thursday,September 21, 2023
On
This cash injection will help extend Pixium’s cash runway until the end of
CEO
Furthermore, the Company will present its half-year financial statements in
On
This reverse stock split is intended to reduce Pixium Vision’s number of shares which may help in reducing share price volatility and fostering stability.
The reverse stock split is a share exchange transaction with no impact on the amount of the share capital: only the par value of the share and, consequently, the number of outstanding shares will be modified.
The reverse stock split operation will begin on
The main terms of the operation are as follows:
- Number of shares covered by the reverse stock split: 149,020,186 (number of shares adjusted in particular following the exercise of securities giving access to the share capital prior to the suspension period and to be reduced by the number of free shares definitively acquired and subject to a lock-up period for which holders will have waived compensation)
- Number of shares resulting from the reverse stock split: 2,980,403 shares (subject to abovementioned adjustments)
- ISIN of post-reverse stock split: FR001400JX97
- Mnemonic code of the new shares: ALPIX
The reverse stock split will not impact the total value of
Shareholders holding an exact multiple of 50 shares on
Shareholders whose current shares do not convert into a whole number of new shares (i.e. who do not hold a multiple of 50 current shares) will be responsible for purchasing or selling the required number of current shares in order to avoid holding fractional shares, and to obtain a multiple of 50 by
In practice, in application of Articles L. 228-6-1 and R. 228-12 of the French Commercial Code, within 30 days from
Notice of this reverse stock split will be published in the French legal notice gazette (Bulletin des Annonces Légales Obligatoires or BALO) on
The entire reverse stock split will be carried out by Euronext Growth Paris.
In relation to this operation, the holders of currently outstanding equity warrants, convertible bonds and all other equity derivatives are hereby notified that, in accordance with Articles L. 225-149-1 and R. 225-133 of the French Commercial Code, the Pixium Vision Board of Directors has decided to suspend exercise of these securities from
The entire reverse stock split operation will be carried out in accordance with the following estimated timelines:
Publication of the notice of reverse stock split at the BALO | |
to | Period of suspension of exercise of securities giving access to the share capital. |
to | Period of reverse stock split transactions. Delisting of current shares at the end of |
Effective date of reverse stock split First trading day for new shares (new ISIN code). Resumption of the right of holders of securities giving access to the share capital to obtain equity securities. | |
Record date | |
to | Period of fractional share compensation by financial intermediaries. |
As indicated in previous press releases (link),
About Pixium Vision
Forward-Looking Statements. This press release contains certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For a discussion of risks and uncertainties which could cause the Company's actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risques”) section of the Company’s 2022 Annual Financial Report and other documents the Company files with the AMF, which is available on the AMF website (www.amf- france.org) or on the Company’s website.
For more information: http://www.pixium-vision.com/fr
Follow us on @PixiumVision; www.facebook.com/pixiumvision
www.linkedin.com/company/pixium-vision
For more information: http://www.pixium-vision.com/fr
Follow us on @PixiumVision; www.facebook.com/pixiumvision
www.linkedin.com/company/pixium-vision
Contacts
Investor Relations Chief Financial Officer investors@pixium-vision.com | Media Relations Rose Piquante Consulting Sophie.baumont@rosepiquante-consulting.com +33 6 27 74 74 49 |
Attachment
- 2023.07.28 - Pixium - PR (bridge financing-reverse stock split-publication of half-year financial statements) - final draft EN
Source:
2023 GlobeNewswire, Inc., source