Brief: Carmat May Not Be Able To Pay Its Debts, Realize Its Assets In Normal Course Of Its Business

Carmat SA

25/09/2023 17:51

Sept 25 (Reuters) - Carmat SA  ALCAR.PA :
    * 2023 INTERIM FINANCIAL REPORT
    * IF CO IS UNABLE TO ACCESS ANY ADDITIONAL FINANCING, IT
WOULD
HAVE FUNDING SHORTFALL STARTING IN NOV 2023, WHICH COULD REACH
BETWEEN €10 MILLION AND €15 MILLION BY DECEMBER 31, 2023
    * IF CO IS UNABLE TO ACCESS ANY ADDITIONAL FINANCING, IT
WOULD
HAVE FUNDING SHORTFALL STARTING IN NOV 2023, WHICH COULD GROW BY
AROUND €30 MILLION AND €20 MILLION IN Q1 AND Q2 2024,
RESPECTIVELY
    * EXPECTS TO BE ABLE TO GRADUALLY EXTEND ITS CASH RUNWAY TO
12
MONTHS
    * EXPECTS TO BE ABLE TO GRADUALLY EXTEND ITS CASH RUNWAY TO
12
MONTHS BY COMPLETING IN THE VERY SHORT-TERM TRANSACTIONS ON
WHICH IT IS CURRENTLY WORKING ACTIVELY
    * IT IS NOT CERTAIN THAT THE COMPANY WILL HAVE ACCESS TO
THESE
FINANCINGS
    * IF THE COMPANY IS UNABLE TO SECURE THE FUNDS IT NEEDS, IT
MAY
NOT BE ABLE TO PAY ITS DEBTS AND REALIZE ITS ASSETS IN THE
NORMAL COURSE OF ITS BUSINESS

Source text: https://tinyurl.com/w9ae7k7e
Further company coverage:  ALCAR.PA 

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