AEON Biopharma signs definitive exchange with Daewoong; $15M notes swapped for equity, new $1.5M note due 2030

AEON Biopharma, Inc.

Exchange eliminates >90% of AEON's outstanding debt; Daewoong receives ~23.1M shares, $1.5M new convertible note at 15.79% due Apr 2030.
Daewoong gets cash-exercise warrant for 8M shares at $1.09392/share, representing up to $8M+ potential proceeds for AEON.
Exchange remains subject to stockholder vote; closing expected after vote on Jan 21, 2026.
Daewoong will nominate Seongsoo Park as Class III director at 2026 annual meeting; Park currently on board.

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