Validation by Sanyou Medical’s Board of Directors of Its Commitment to Subscribe up to €5 Million to IMPLANET’s Planned Capital Increase

• The planned capital increase remains subject to the approval of the relevant Chinese government authorities, expected in January 2024
• Drawdown by IMPLANET of the balance of the bond issue contracted last October

BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory News:

IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME plans) (Paris:ALIMP), a medical technology company specializing in implants for orthopedic surgery and the distribution of technological medical equipment, announces the agreement of Sanyou Medical’s Board of Directors to its commitment to subscribe up to €5 million to IMPLANET’s forthcoming capital increase, and to draw down the balance of the bond issue contracted last October.

As announced in the press releases of September 28, 2023, and October 31, 2023, IMPLANET is planning to launch a capital increase with preferential subscription rights of between €5.5 million and €6.4 million (excluding the possible exercise of a maximum 15 % extension option) in January 2024.

Sanyou Medical, which holds a 41.03% stake in IMPLANET’s capital, had pledged to subscribe to the capital increase in cash on an irreducible and reducible basis to the tune of €5 million subject to the approval of Sanyou Medical’s Board of Directors.

Sanyou Medical has informed IMPLANET that its Board of Directors, meeting on December 7, 2023, approved the planned capital increase and confirmed its commitment to subscribe up to €5 million.

To date, the planned capital increase is only subject to the approval of the relevant Chinese government authorities, which is expected in January 2024.

The final terms of the capital increase and its timetable will be announced in a forthcoming press release.

IMPLANET also announces that it has drawn down the second and final tranche of the bond issue contracted last October, representing a net amount of €0.50 million for the Company.

As announced in the press release of October 11, 2023, the non-dilutive non-convertible bonds, whose maturity date is April 30, 2024, are to be repaid no later than five working days of the earlier of (i) April 30, 2024, and (ii) the completion of the planned capital increase.

In the event of (i) the Company not repaying the bonds due or (ii) the Company does not launch the planned capital increase before January 31, 2024, the Company has undertaken to allocate free share subscription warrants to the holders of the non-convertible bonds, enabling them to redeem the bonds in shares. The Company will issue a press release if necessary.

Based on current cashflow assumptions and in the absence of any new sources of funding being obtained, the drawdown of this second tranche will provide the Company with financing until the end of February 2024.

Based on current assumptions regarding activity and anticipated commercial developments with Sanyou Medical, the Company estimates that the capital increase, for a minimum amount of €5 million, would give it financial visibility of over 12 months once implemented.

Upcoming financial publication

• 2023 annual revenue, on January 15, 2024, after market close

About IMPLANET

Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery and distributing medical technology equipment. Its activity revolves around a comprehensive innovative solution for improving the treatment of spinal pathologies (JAZZ®) complemented by the product range offered by Orthopaedic & Spine Development (OSD), acquired in May 2021 (thoraco-lumbar screws, cages and cervical plates). Implanet’s tried-and-tested orthopedic platform is based on the traceability of its products. Protected by four families of international patents, JAZZ® has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States, the CE mark in Europe and ANVISA approval in Brazil. In 2022, IMPLANET entered into a commercial, technological and financial partnership with SANYOU MEDICAL, China’s second largest medical device manufacturer. IMPLANET employs 43 staff and recorded a consolidated revenue of €8.0 million in 2022. Based near Bordeaux in France, IMPLANET opened a US subsidiary in Boston in 2013. IMPLANET is listed on the Euronext Growth market in Paris.

For further information, please visit www.Implanet.com.

Disclaimer

This press release contains forward-looking statements about Implanet and its business. Implanet believes that these forward-looking statements are based on reasonable assumptions. However, no assurance can be given that the forecasts expressed in these forward-looking statements will materialize, as they are subject to risks, including those described in Implanet’s reference document filed with the Autorité des marchés financiers (AMF) on April 16, 2018 under number D.18-0337, in the annual financial report for December 31, 2022 and in the half-year report for June 30, 2023, which are available on the Company’s website (www.implanet-invest.com), and to changes in economic conditions, financial markets and the markets in which Implanet operates. The forward-looking statements contained in this press release are also subject to risks that are unknown to Implanet or that Implanet does not currently consider material. The occurrence of some or all of these risks could cause Implanet’s actual results, financial condition, performance or achievements to differ materially from those expressed in the forward-looking statements. This press release is for information purposes only and does not and shall not under any circumstances constitute an offer to sell or subscribe, or the solicitation of an order to buy or subscribe, Implanet securities in any country.

Contacts

IMPLANET
Ludovic Lastennet, CEO

David Dieumegard, CFO

Tél. : +33 (0)5 57 99 55 55

investors@Implanet.com

NewCap
Investor Relations

Mathilde Bohin

Nicolas Fossiez

Tél.: +33 (0)1 44 71 94 94

Implanet@newcap.eu

NewCap
Media Relations

Arthur Rouillé

Tél.: +33 (0)1 44 71 94 94

Implanet@newcap.eu