Financing ·
Addex issues 93M shares to subsidiary from capital band for financing flexibility
ADXNAddex Therapeutics Ltd.
Addex Therapeutics issued 93,000,000 new registered shares at a nominal value of CHF 0.01 to its wholly-owned subsidiary, Addex Pharma S.A., under an existing capital band. The transaction increases the company's total issued share capital to CHF 3,116,544.96 representing 311,654,496 shares, while leaving the number of outstanding shares unchanged. The move is intended to provide additional future financing flexibility for the clinical-stage biopharmaceutical company focused on developing small molecule allosteric modulators for neurological disorders.