BIOCORP : announces the great success of its capital increase through a private placement to qualified investors for an amount of €4.2 million

Press release

Not for publication, distribution or release, directly or indirectly, in whole or in part, in or into the United States of

America, Canada, Japan and Australia. This press release does not constitute an offer and is provided for

information purposes only.

BIOCORP announces the great success of its capital increase

through a private placement to qualified investors for an

amount of €4.2 million

Issoire (France), November 19th, 2020, at 07:30 am CET - BIOCORP (FR0012788065 - ALCOR / Eligible PEA PME), a French company specialized in the design, development and manufacture of innovative medical devices, today announced the success of its capital increase without shareholders' preferential subscription rights of a final amount of €4.2 million through an offering to qualified investors, both French and international (the "Offering") by way of an accelerated bookbuilding. The order book was broadly covered, based on sustained demand from new and existing institutional investors for a total of €6.1 million.

The Offering resulted in the issuance of 152,728 new ordinary shares, representing 3.68% of the Company's current share capital, at a subscription price per share of €27.50 (issue premium included), for a total amount of €4,200,020. The subscription price was €27.50, representing a 2.14% discount on the closing share price on the Euronext Growth Paris market.

Following the Offering, the Company's new share capital now consists of 4,299,716 shares, each with a nominal value of €0.05. Based on the available cash (€1,554 million at June 30, 2020) and its forecast revenus and expenses, the funds raised as a result of the transaction should enable the Company to achieve its strategic objectives and cover its working capital requirements well beyond the next 12 months.

Eric Dessertenne, Chief Executive Officer, said: "We would like to thank the longstanding shareholders for participating in this fund raising, which demonstrates their involvement and confidence in the Company, and we are delighted to welcome new investors, particularly foreign investors, to Biocorp's share capital."

CONTEXT OF THE OFFERING

The proceeds of the Offering should allow BIOCORP to:

• Strengthen its equity capital to enable it to be positive at 31 December 2020 (as a reminder, the Company's shareholders' equity at June 30, 2020 was - €746,762);
• Respond to Mallya's strong demand by accelerating its production and marketing capacity as well as its lifecycle management ;
• Accelerate the development of new innovative projects in new markets.

Press release

Not for publication, distribution or release, directly or indirectly, in whole or in part, in or into the United States of

America, Canada, Japan and Australia. This press release does not constitute an offer and is provided for

information purposes only.

MAIN FEATURES OF THE OFFERING

A total of 152,728 new ordinary shares, with a nominal unit value of €0.05, were issued for the benefit of qualified investors within the meaning of Article 2(e) of (EU) Regulation No.2017/1129 of June 14, 2017, as specified in paragraph of Article L.411-2 of the French Monetary and Financial Code in accordance with the 9th resolution of the Company's Combined Shareholders' Meeting held on May 15, 2020.

The new shares, representing 3.68% of the Company's current share capital, on a non-diluted basis, prior to the completion of the Offering (a dilution of 3.55%), were issued by decisions of the Board of Directors and of the Chief Executive Officer on November 18, in accordance with the delegation of authority conferred by the 9th resolution approved by the Company's Combined Shareholders' Meeting held on May 15, 2020.

The issue price for the new shares was set at €27.50 per share, representing a 2.14% discount on the closing price of BIOCORP shares on November 18, 2020 (i.e., €28.10), and a 4.31% discount on the volume weighted average BIOCORP share price on the Euronext Growth Paris market of the last 5 trading sessions prior to the price being set, i.e. from November 12-18, 2020 inclusive (i.e., €28.74), in accordance with the decisions of the Board of Directors on November 18, taken pursuant to the 9th resolution of the Company's Combined Shareholders' Meeting held on May 15, 2020, which set the maximum authorized discount at 10% of the volume weighted average BIOCORP share price of the last 5 trading sessions prior to the price being set.

For example, a shareholder holding 1% of the BIOCORP share capital prior to the launch of the Offering will now have a 0.96% stake.

The Company's share capital will consist of 4,299,716 shares once settlement-delivery is complete.

To the Company's best knowledge, the shareholder base before and after the Offering breaks down as follows:

					Prior to the Offering (1)
							% of			Theoretical
				Number			the
	Shareholders							voting
			of shares			share
							rights
							capital
	Jacques	200		0.01 %		400
	GARDETTE
	Holding BIO	1,998,800		48.20%	3,997,600
	JAG

After the Offering

% of

% of

Theoretical

% of

Number

the

voting

voting

voting

of shares

share

rights

rights

rights

capital

0.01%

200

0.00 %

400

0.00 %

64.43%

1,998,800

46.49%

3,997,600

62.89%

Press release

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America, Canada, Japan and Australia. This press release does not constitute an offer and is provided for

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	Jacques
	GARDETTE	1,000			0.02 %			2,000			0.03%		1,000		0.02%			2,000			0.03%
	family
	Subtotal
	GARDETTE	2,000,000			48.22%			4,000,000			64.47%		2,000,000		46.51%			4,000,000			62.92%
	Family
	Treasury	11,869			0.29%			11,869			0.19 %		11,869		0.28 %			11,869			0.19%
	shares
	Free float	2,135,119			51.49%		2,192,396			35.34%	2,287,847		53.21%		2,345,124			36.89%
	Total	4,146,988			100 %			6,204,265			100 %		4,299,716		100 %			6,356,993			100 %

1. Based on the information available on November 18th, 2020

Admission to trading of new shares

The new shares will bear dividend rights and will be admitted to trading on Euronext Growth Paris under the same ISIN code ISIN FR0012788065 - ALCOR. The settlement-delivery of the new shares and their admission to trading on Euronext Growth Paris will take place on November 23, 2020.

The information in this press release is released following the placement of shares by way of an accelerated bookbuilding, which is now closed, but remains subject to the proper execution of settlement-delivery transactions.

Pursuant to the provisions of Article L. 411-2 of the French Monetary and Financial Code and Article 1.4 of Regulation (EU) No. 2017/1129 of the European Parliament and of the Council meeting of June 14, 2017, the Offering did not and will not require a prospectus to be submitted for approval to the French financial markets' authority (the "AMF ").

RISK FACTORS

The reader's attention is drawn to the risk factors relating to the Company and its business, presented in section 3.6 and following of the 2020 half-year financial report and in section 3.6 of the 2019 Annual Financial Report, which are available free of charge on the Company's website (https://biocorpsys.com/investisseurs/informations-reglementees/). The occurrence of some or all of these risks could have an adverse effect on the Company's business, financial condition, results of operations, development or prospects. The risk factors presented in the said 2020 half-year financial report are identical to those at the date of this press release.

In addition, investors are invited to take into consideration the following risks specific to the Offering: (i) the market price of the Company's shares may fluctuate and fall below the subscription price of the shares issued in the Offer, (ii) the volatility and liquidity of the Company's shares may fluctuate significantly, (iii) sales of the Company's shares may occur in the market and have an adverse impact on the Company's share price, and (iv) the Company's shareholders may suffer additional dilution as a result of possible future capital increases.

Press release

Not for publication, distribution or release, directly or indirectly, in whole or in part, in or into the United States of

America, Canada, Japan and Australia. This press release does not constitute an offer and is provided for

information purposes only.

PARTIES INVOLVED

Global coordinator and Bookrunner	Legal counsel

ABOUT BIOCORP

Recognized for its expertise in the development and manufacture of medical devices and delivery systems, BIOCORP has today acquired a leading position in the connected medical device market thanks to Mallya. This intelligent sensor for insulin injection pens allows reliable monitoring of injected doses and thus offers better compliance in the treatment of diabetics. Available for sale from 2020, Mallya spearheads BIOCORP's product portfolio of innovative connected solutions. The company has 57 employees.

BIOCORP is listed on Euronext since July 2015 (FR0012788065 - ALCOR). For more information, please visit www.biocorpsys.com.

BIOCORP CONTACTS
Jacques Gardette	Éric Dessertenne	Sylvaine Dessard
Chairman of the Board	Chief Executive Officer	Marketing & Communication Director
[e-mail]		[e-mail]
		+ 33 (0)6 88 69 72 85

ULYSSE COMMUNICATION CONTACTS
Bruno ARABIAN	Nicolas DANIELS
[e-mail]	[e-mail]
[phone]	[phone]

IMPORTANT INFORMATION

This press release and the information it contains are not an offer to sell or subscribe to, or a solicitation of an order to buy or subscribe to the shares of Biocorp in any country.

This press release constitutes promotional material and is not a prospectus within the meaning of Regulation (EU) No. 2017/1129 of the European Parliament and of the Council meeting of June 14, 2017 (the "Prospectus Regulation").

In the Member States of the European Economic Area and in the United-Kingdom, this communication and any offering made hereunder are directed only at persons who are "qualified investors" within the meaning of Article 2(e) of the Prospectus Regulation.

This press release does not constitute an offer of securities for sale nor the solicitation of an offer to purchase securities in the United States.