Néovacs confirms cancellation of €250k drawdown scheduled for August
In a press release published on October 5, 2026, the Suresnes biotech company announced that the drawdown scheduled for August 17, 2026 will not take place. It specified that, unless it communicates otherwise, future drawdowns should occur according to the procedures and timetable already announced.
A monthly schedule of €250k implemented in March 2026
On March 24, 2026, Néovacs (Euronext Growth Paris: ALNEV) announced the implementation of a scheduled drawdown calendar, "in order to provide greater visibility on future drawdowns". This mechanism provides for a tranche of €250k (€245k net) each month, from April to December 2026 inclusive.
On August 25, 2026, the company announced that the drawdown scheduled for August 17 had not been carried out. The drawdown scheduled for September 16, 2026 did take place, but for an adjusted amount of €130k.
The table tracking drawdowns and conversions is available on the company's website, in the section devoted to securities issued by the issuer.
Dilutive financing accompanied by a warning to shareholders
Néovacs uses two mechanisms. The first is OCEANE-BSA financing concluded with Hanover Square Investments 1, which is not intended to remain a shareholder after receiving shares resulting from conversion or exercise of the instruments. The second is ORA financing, entirely transferred to a trust (which also subscribed to OS) now responsible for their conversion into shares.
According to the company, shares resulting from these conversions are generally sold on the market at very short notice, which can create strong downward pressure on the share price. For the trust, these sales follow the procedures set out in the trust agreement.
The press release indicates that shareholders may suffer a loss of their invested capital as well as significant dilution, and invites investors to "be very vigilant". The company recalls that this dilutive financing operation is not the first it has implemented.
