iX Biopharma to issue 2.68m shares to capitalise $1.51m debt

Shares will be issued at $0.5627 each.

iX Biopharma Ltd. has entered into an agreement to capitalise $1.51m (A$1.7m) in debt owed to creditor Lee Vincent Seng Yong through the issuance of new ordinary shares.

The Debt Capitalisation Agreement was signed on 3 October 2026. Under the agreement, the company will issue 2,682,779 new ordinary shares at $0.5627 each to fully settle the outstanding principal amount under a loan agreement dated 14 February 2025.

The A$1.7m debt, equivalent to $1.5096m based on an exchange rate of A$1 to $0.888, excludes accrued interest.

The loan was originally owed by iX Syrinx Pty Ltd, a wholly owned subsidiary of iX Biopharma. Its obligations as borrower were novated to iX Biopharma on 3 October, making the company responsible for the outstanding debt.

The capitalisation shares will be allotted and issued as full and final settlement of the capitalised debt.

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