Addex Therapeutics Ltd announced a private placement of up to 5,478,570 unregistered pre-funded warrants at a price of CHF 0.990758 per warrant for gross proceeds of CHF 5,427,937 on December 16, 2021. The transaction will include participation from Armistice Capital LLC. The company will also issue unregistered warrants to purchase up to 9,230,772 shares. The unregistered pre-funded warrants have an exercise price of CHF 0.009242 and the unregistered warrants have an exercise price of CHF 1 per share. The warrants will become exercisable in 60 days after their date of issuance and will expire six years from their date of issuance. The closing of the transaction is expected to occur on or about December 21, 2021, subject to the satisfaction of customary closing conditions. The warrants and shares underlying the warrants are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder and, along with the shares underlying the warrants, have not been registered under the Act, or applicable state securities laws. The warrants will be subject to transfer restrictions.