Paion AG makes a further Drawdown from its €15 million equity facility

Paion AG, the biopharmaceutical company listed on the Frankfurt Stock Exchange, announced on 13th December its further Drawdown under the €15 million Equity Facility it entered into with a fund managed by Acqua Capital Management earlier this year.

Pursuant to this Drawdown, 170.765 new shares were issued to CCSV at a price of €2.34 per share, representing an equity capital raising of close to €400,000 for Paion. The Company intends to use the cash inflows from the Equity Facility to fund research and development activities, for acquisitions and working capital.

Excellion Advisors LLP is acting as placement agent in connection with the Equity Facility and each Drawdown thereunder.