Brief: Carmat Launches Capital Increase Of Initial Amount Of 15 Million Euros

Carmat SA

17/01/2024 17:15

Jan 17 (Reuters) - Carmat SA  ALCAR.PA :
    * CARMAT LAUNCHES A CAPITAL INCREASE OF AN INITIAL AMOUNT OF
€15
MILLION AS PART OF ITS SHORT-TERM FINANCING
    * EXTENSION OF CARMAT'S CASH RUNWAY TO EARLY MAY 2024, IN
EVENT OF
COMPLETION OF INITIAL CAPITAL INCREASE (EXCLUDING EXTENSION
CLAUSE AND OVERALLOTMENT OPTION).
    * INITIAL AMOUNT OF CAPITAL INCREASE COULD BE INCREASED UP
TO EUR
17.25 MILLION SHOULD EXTENSION CLAUSE BE FULLY EXERCISED, AND UP
TO EUR 19.8 MILLION SHOULD EXTENSION CLAUSE AND OVERALLOTMENT
OPTION BE FULLY EXERCISED
    * CAPITAL INCREASE WILL BE MADE BY WAY OF A PUBLIC OFFERING
WITHOUT PREFERENTIAL SUBSCRIPTION RIGHTS
    * AFTER OFFERING, COMPANY'S FUNDING NEEDS FOR NEXT 12 MONTHS
WILL
AMOUNT TO EUR 37 TO 55 MILLION
    * THIS PUTS US IN A POSITION TO MOVE TOWARDS A SUBSTANTIAL
COMMERCIAL DEPLOYMENT OF AESON® IN EUROPE, FROM BEGINNING OF
2024
    * SUBSCRIPTION PERIOD OPEN FROM JANUARY 18 TO JANUARY 25,
2024,
INCLUSIVE
    * AS OF TODAY, COMPANY DOES NOT HAVE SUFFICIENT WORKING
CAPITAL TO
MEET ITS COMMITMENTS AND CASH REQUIREMENTS OVER NEXT 12 MONTHS
    * SUBSCRIPTION PRICE: EUR 3.99 PER SHARE, REPRESENTING A
DISCOUNT
OF 30%
    * IN EVENT THAT OFFERING IS NOT COMPLETED AND COMPANY DOES
NOT
HAVE ACCESS TO ADDITIONAL FINANCING BETWEEN NOW AND JANUARY 31,
2024, ITS FINANCING SHORTFALL WILL MATERIALISE FROM THAT DATE
    * EXPECTS TO NEED APPROXIMATELY EUR 65 MILLION IN FINANCING
TO
ENSURE ALL OF ITS OPERATIONS OVER NEXT 12 MONTHS

Source text for Eikon:  ID:nBwccthgBa 
Further company coverage:  ALCAR.PA 

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