Median Technologies Gives Update on Drawdowns of the Iris Equity Line

05 Feb 2025 17:45 CET

Regulatory News:

Median Technologies (FR0011049824, ALMDT, PEA/SME scheme eligible), a leading developer of eyonis™, a suite of artificial intelligence (AI) powered Software as a Medical Device (SaMD) for early cancer diagnostics, and a globally leading provider of AI-based image analyses and imaging services for oncology drug developers, announced that, on January 23, 2025, the Company signed a financing agreement with Iris in the form of bonds redeemable in shares for a maximum amount of €10 million. On January 24, 2025, Iris subscribed to an initial tranche of 1,600 redeemable bonds of a nominal value of €4 million.

The Company will have the right to suspend and reactivate the drawdowns of the tranches without penalty. The key terms and conditions of the financing facility are as follows:

• A single tranche of 4,000 warrants, subscribed by Iris Capital, each warrant entitling its holder to subscribe to a bond redeemable in shares,
• Iris Capital has committed to subscribing over a 24-month period to 4,000 bonds upon the exercise of the warrants in six (6) tranches (the first for €4,000,000, the second for €2,500,000, the third to fifth for €1,000,000 each, and the sixth and final for €500,000),
• Median Technologies will have the right to suspend and reactivate the drawdowns of the tranches without penalty,
• The redemption price of the bonds in new shares is equal to 95% of the lowest volume-weighted average price over the twenty-five (25) trading days immediately preceding the bond redemption date. By way of exception, the parties may agree on a redemption price for the Bonds in the event of a block sale of the shares resulting from the redemption of the said Bonds by Iris Capital.
• Furthermore, it is specified that the redemption price of the bonds can in no case be lower than (i) the minimum price set by the board of directors of Median Technologies, namely 95% of the volume-weighted average price of the trading day immediately preceding the bond redemption date, (ii) the minimum price set by the combined general meeting of the company's shareholders on June 19, 2024, namely the average closing price of Median Technologies’ ordinary shares observed over the twenty (20) trading sessions preceding the bond redemption date, reduced by a discount of 20%, (iii) nor the nominal value of the company’s shares.

Status to-date of bonds subscribed and exercised

About Median Technologies: Pioneering innovative imaging solutions and Software as Medical Devices, Median Technologies harnesses cutting-edge AI to enhance the accuracy of early cancer diagnoses and treatments. Median's offerings include iCRO, which provides medical image analysis and management in oncology trials, and eyonis™, an AI/ML tech-based suite of software as medical devices (SaMD). Median empowers biopharmaceutical entities and clinicians to advance patient care and expedite the development of novel therapies. The French-based company, with a presence in the U.S. and China, trades on the Euronext Growth market (ISIN: FR0011049824, ticker: ALMDT). Median is also eligible for the French SME equity savings plan scheme (PEA-PME). For more information, visit www.mediantechnologies.com.

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MEDIAN TECHNOLOGIES
Emmanuelle Leygues
VP, Corporate Marketing & Financial Communications
+33 6 10 93 58 88
emmanuelle.leygues@mediantechnologies.com

Investors
Ghislaine Gasparetto
SEITOSEI ACTIFIN
+33 6 21 10 49 24
ghislaine.gasparetto@seitosei-actifin.com

U.S. media & investors
Chris Maggos
COHESION BUREAU
+41 79 367 6254
chris.maggos@cohesionbureau.com

Press
Caroline Carmagnol
ALIZE RP
+33 6 64 18 99 59
median@alizerp.com