Carmat launches new capital increase for 10.3 million euros (updated)

Carmat SA

18/09/2024 07:01

(Updates with CEO quote, detail and context)
       Sept 18 (Reuters) - Artificial heart maker Carmat
 ALCAR.PA  on Wednesday announced the launch of a new capital
increase for an initial amount of 10.3 million euros ($11.5
million), citing "short-term working capital needs". 
    The French group, which has launched a series of capital
increases since September 2023, after flagging supply chain
issues that threatened its survival, said the funding will
support its activities until at least the end of 2024. 
    "The capital increase with a priority period for
shareholders that we are launching today is crucial to
strengthen our short-term financial structure", CEO Stéphane
Piat said in a statement.
    After the offering, Carmat's financing needs to the end of
September 2025 will be between 36 million and 38 million euros,
the company said. 
    Earlier this month, Carmat cut its full year sales guidance
to between 8 million and 12 million euros, against 14 million
euros previously, due to markets dynamics and seasonality. 
        The issue price of new shares is 1.60 euros per share.
     
    ($1 = 0.8994 euros)

 (Reporting by Stéphanie Hamel; Editing by Tom Hogue)
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