AEON Biopharma and Daewoong Execute Exchange Agreement, Eliminate 90% of Outstanding Debt

AEON Biopharma has executed an exchange agreement with Daewoong Pharmaceutical to exchange $15 million of notes for new equity, $1.5 million of new notes due 2030, and a cash-exercise warrant for 8 million shares of common stock. The transaction eliminates over 90% of AEON's outstanding debt, strengthens Daewoong's strategic alignment, and transforms AEON's capital structure. The exchange remains subject to shareholder approval.