Neovacs Raises 250,000 Euros Through OCEANE-BSA Issuance
Biotechnology company Neovacs has announced a raise of 250,000 euros through the issuance of OCEANE-BSA subscribed by Hanover Square Investments, according to a press release dated January 15, 2026. The net proceeds of the operation, amounting to 245,000 euros, will be allocated to funding activities in the fields of asthma, allergies, and mRNA programs.
Details of the Financial Operation
The operation announced by Neovacs involves the issuance of OCEANE-BSA with a nominal value of 250,000 euros, subscribed by Hanover Square Investments, the statement indicates. This fundraising is part of a broader financing agreement established in September 2025, with a maximum nominal amount of 10 million euros over a maximum period of 24 months. Prior to this new drawdown, issuances under this contract had already raised 750,000 euros and resulted in the creation of 63,220,534 new shares, the company specifies. The initial subscriber's role is to ensure a gradual fundraising and is not intended to hold the securities for the long term, but to sell them progressively on the market.
Impact on Shareholder Equity
The announced issuance results in the creation of 4,166,666 share subscription warrants and could lead to the creation of 49,720,601 new shares based on the last quoted price, according to the statement. A shareholder holding 1% of the capital prior to this new drawdown would see their stake reduced to 0.61%, the company illustrates. All OCEANE-BSA issuances to date could result in the creation of 50,397,676 new shares. The company notes that a shareholder holding 1% of the capital before previous drawdowns now sees their stake reduced to less than 0.01%. The group warns that shares resulting from the conversion or exercise of these instruments will generally be sold in the market very shortly, which can create significant downward pressure on the stock price.
Allocation of Raised Funds
The funds raised, after deducting expenses, amount to 245,000 euros and will be used to finance activities in the areas of asthma and allergies, as well as programs focused on mRNA strategies, Neovacs indicates. The French biotechnology company, listed on Euronext Growth since 2010, specializes in therapeutic vaccines targeting the treatment of autoimmune diseases with its Kinoide technology. In its 2024 annual financial report, the company estimated that it would be able to meet its upcoming deadlines over the next 12 months, thanks in part to the use of this bond financing line, the statement specifies. This operation does not result in the establishment of a prospectus subject to the approval of the AMF.
