iX Biopharma Upsizes Share Placement to S\$15 Million Following Strong Investor Demand

Singapore, 13 February 2026 — iX Biopharma Ltd. (SGX: 42C) announced a major development concerning its capital raising activities, with the company significantly upsizing its proposed share placement after receiving overwhelming investor interest. This move is expected to have a material impact on the company’s capital structure and future strategic initiatives.

Key Highlights of the Placement

• Upsizing of Placement: The company originally planned to raise at least S\$6 million but has now increased the size of the placement to gross proceeds of S\$15,008,400, reflecting a substantial ~150% increase over the minimum target.
• New Shares to be Issued: A total of 75,800,000 new shares will be issued at the agreed placement price, representing approximately 7.89% of the pre-placement share capital and 7.31% of the enlarged issued share capital after completion (assuming no further changes to share capital till completion).
• Bookbuilding Closed: The book of orders for the placement was closed on 13 February 2026, coordinated by Oversea-Chinese Banking Corporation Limited.
• Recent Warrant Exercise: On the same day, iX Biopharma also allotted and issued 1,049,650 new shares from the exercise of existing warrants, bringing the current issued and paid-up share capital to 960,493,895 shares.

Use of Proceeds

The gross proceeds of S\$15,008,400 will be applied as follows:

• Funding for U.S. Government Contract & Working Capital: S\$13,008,400 (86.67%) will be used to support interim funding requirements related to a U.S. Government contract, general working capital, and to cover fees and expenses from the placement (estimated at S\$620,000).
• Debt Repayment: S\$2,000,000 (13.33%) will be allocated to the repayment of debts.

Pending deployment, net proceeds may be placed in banks, invested in short-term instruments, or otherwise managed as the Board considers appropriate.

Shareholder Mandate, Dilution, and Listing

• Shareholder Approval: The new shares will be issued under the General Mandate approved at the 2025 AGM, which authorizes up to 446,746,947 shares (non pro-rata). Issuances under this mandate, including the current placement, remain well within the approved limits.
• Listing Application: The company, with UOB Kay Hian as its sponsor, will apply to the SGX-ST for listing and quotation of the new shares on the Catalist board. Shareholders will be notified upon receipt of the listing approval.

Director and Shareholder Interests

None of the directors, substantial shareholders, or their associates have any direct or indirect interest in the placement apart from their existing shareholdings.

Ongoing Disclosure and Accountability

• The company will provide ongoing updates to shareholders as funds are deployed and will disclose in detail the use of proceeds in interim and full-year financial statements, with specific breakdowns for working capital usage.
• Any material deviation from the stated use of proceeds will be announced, ensuring transparency.
• The Directors collectively and individually accept full responsibility for the accuracy of the disclosures in the announcement.

Cautionary Statement

Important for Shareholders: The completion of the placement is still subject to certain conditions under the Placement Agreement. Shareholders and potential investors are advised to exercise caution in trading iX Biopharma shares and to consult professional advisers if in doubt.

Potential Share Price Impact

• Significant Capital Injection: The large upsizing of the capital raise and the extent of investor demand may be viewed positively by the market, strengthening the company’s financial position for growth, debt repayment, and strategic initiatives.
• Potential Dilution: Existing shareholders should note that the new shares represent a significant (over 7%) dilution of capital, which may impact per-share metrics.
• Strategic Funding: The deployment of proceeds towards a U.S. Government contract could signal new growth avenues and partnerships, which may be price sensitive.

Regulatory Note

The new shares have not been, and will not be, registered under the U.S. Securities Act of 1933 or securities laws of any state of the U.S. or other jurisdiction. As such, they may not be offered or sold in the U.S. except as permitted under exemptions from registration requirements.

Disclaimer: This article is for informational purposes only. It does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own research and consult their financial advisers before making investment decisions. The author and publisher assume no liability for any losses arising from reliance on this information.

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