iX Biopharma Ltd. said on Oct, 05 2026 that it has signed a Debt Capitalisation Agreement with creditor Lee Vincent Seng Yong to convert an outstanding loan of 1.51 million Singapore dollars (A$1.70 million) into equity.

Under the terms, the company will issue 2,682,779 new ordinary shares at 0.5627 Singapore dollars each, matching the volume-weighted average price on Oct, 02 2026. The new shares equal roughly 0.25% of iX Biopharma’s existing 1,093,315,474 shares and about 0.24% of the enlarged 1,095,998,253 share base.

The shares will be issued under the firm’s general mandate approved at its Oct, 24 2025 annual general meeting, requiring no further shareholder approval. No cash will be raised; the issuance fully settles the loan, lowering group liabilities by the same amount and increasing net assets.

Following completion, Lee Vincent Seng Yong’s stake will rise from 0.19% to approximately 0.44% of the enlarged share capital. The company will seek listing and quotation approval from the Singapore Exchange.

Directors said the move will reduce indebtedness, strengthen the balance sheet, improve net assets and working capital, and conserve cash for the group’s U.S. expansion plans, including development of its Wafermine® ketamine wafer and growth in the compounding pharmacy market.

Completion is subject to conditions including Singapore Exchange approval and is targeted no later than Dec, 31 2026.