Press Release: Addex Announces Pricing of $10.0 Million Global Offering

Geneva, Switzerland, January 7, 2021 -- Addex Therapeutics

https://www.globenewswire.com/Tracker?data=-nnhK0OWLYxJEB1RJjGOquKhGvo-Kf0L54A7t-n7eZgN1-tWMwgWleEWo-X6av5L4HacU5QvNHQh_5LNgCNw7TctSFGxZiVRTReuzm-JTUY=

Ltd (SIX: ADXN and Nasdaq: ADXN), a clinical-stage pharmaceutical

company pioneering allosteric modulation-based drug discovery and

development, announced today the pricing of an underwritten global

offering of 6,000,000 registered shares (the New Shares) (including

shares in the form of American Depositary Shares, or ADSs) at a public

offering price of approximately CHF1.47 per share or $10.00 per ADS.

Each ADS represents the right to receive six shares of Addex. The

aggregate gross proceeds from the offering are expected to be $10.0

million, before deducting the underwriting discounts and commissions and

offering expenses payable by Addex. The offering is expected to close on

or about January 11, 2021, subject to satisfaction of customary closing

conditions.

H.C. Wainwright & Co. is acting as sole book-running manager for the

offering.

In connection with the offering, Addex has granted the underwriter a

30-day option to purchase up to additional 900,000 shares (or ADSs) at

the public offering price, less the underwriting discounts and

commissions.

The New Shares will be issued from existing authorized share capital of

Addex under exclusion of the existing shareholders' pre-emptive rights.

The New Shares, if issued, are expected to be listed and admitted to

trading on SIX Swiss Exchange. The New Shares will rank pari passu with

Addex's existing shares.

The shares, including those to be settled in the form of ADSs, are being

offered and sold pursuant to the Company's previously filed registration

statement on Form F-1 (File No. 333-251322), as amended, with the U.S.

Securities and Exchange Commission (SEC) and declared effective by the

SEC on January 6, 2021. The offering is being made by means of a

prospectus. When available, an electronic copy of the final prospectus

relating to, and describing the terms of, the offering may be obtained

by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor,

New York, NY 10022, by telephone at (646) 975-6996 or e-mail at

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placements@hcwco.com or on the SEC's website at SEC.gov.

This press release shall not constitute an offer to sell or the

solicitation of an offer to buy these securities, nor shall there be any

sale of these securities in any state or jurisdiction in which such

offer, solicitation or sale would be unlawful prior to registration or

qualification under the securities laws of any such state or

jurisdiction. There is no intention or permission to publicly offer,

solicit, sell or advertise, directly or indirectly, any securities of

Addex Therapeutics Ltd in or into Switzerland within the meaning of the

Swiss Financial Services Act ("FinSA"). Neither this document nor any

other offering or marketing material relating to these securities, such

as the shares, constitutes or will constitute a prospectus pursuant to

the FinSA, and neither this document nor any other offering or marketing

material relating to the shares constitutes a prospectus pursuant to the

FinSA, and neither this document nor any other offering or marketing

material relating to the shares may be publicly distributed or otherwise

made publicly available in Switzerland.

About Addex Therapeutics:

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Addex Therapeutics is a clinical-stage pharmaceutical company focused on

the development and commercialization of an emerging class of novel

orally available small molecule drugs known as allosteric modulators for

neurological disorders. Allosteric modulators offer several potential

advantages over conventional non-allosteric molecules and may offer an

improved therapeutic approach to conventional "orthosteric" small

molecule or biological drugs. Addex's allosteric modulator drug

discovery platform targets receptors and other proteins that are

recognized as essential for therapeutic intervention. Addex is listed on

the NASDAQ Capital Market and is trading under the ticker symbol "ADXN".

Press Contacts:

Tim Dyer Mike Sinclair

Chief Executive Officer Partner, Halsin Partners

Telephone: +41 22 884 15 55 +44 (0)20 7318 2955

Email: mailto:PR@addextherapeutics.com PR@addextherapeutics.com mailto:msinclair@halsin.com msinclair@halsin.com

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Forward Looking Statements:

This press release contains forward-looking statements within the

meaning of the Private Securities Litigation Reform Act of 1995, as

amended, including in respect of the anticipated closing of the offering

described above. The words "may," "will," "could," "would," "should,"

"expect," "plan," "anticipate," "intend," "believe," "estimate,"

"predict," "project," "potential," "continue," "target" and similar

expressions are intended to identify forward-looking statements,

although not all forward-looking statements contain these identifying

words. Any forward-looking statements in this press release, such as the

expected closing date, are based on management's current expectations

and beliefs and are subject to a number of risks, uncertainties and

important factors that may cause actual events or results to differ

materially from those expressed or implied by any forward-looking

statements contained in this press release, including, without

limitation, uncertainties related to market conditions and the

satisfaction of customary closing conditions related to the global

offering. These and other risks and uncertainties are described in

greater detail in the section entitled "Risk Factors" in Addex

Therapeutics' Annual Report on Form 20-F for the year ended December 31,

2019, as filed with the SEC on April 27, 2020, the preliminary

prospectus related to the global offering and other filings that Addex

Therapeutics may make with the SEC in the future. Any forward-looking

statements contained in this press release represent Addex Therapeutics'

views only as of the date hereof and should not be relied upon as

representing its views as of any subsequent date. Addex Therapeutics

explicitly disclaims any obligation to update any forward-looking

statements.

(END) Dow Jones Newswires

January 06, 2021 21:00 ET (02:00 GMT)