Brief: Pharnext Announces 20.5 Million Euro Bond Issue

Pharnext SCA

13/06/2018 17:29

June 13 (Reuters) - PHARNEXT SA  PHARN.PA :
    * ANNOUNCES EUR 20,5 MILLION BOND LOAN
    * SUPPORTS RESEARCH AND DEVELOPMENT THROUGH END OF 2019
    * PHARNEXT HAS RAISED OVER EUR 36.5 MILLION SINCE APRIL 2018
    * FINANCING CONSISTS OF THREE TRANCHES OF BONDS WITH AN
ANNUAL
INTEREST RATE OF EURIBOR+11%
    * A BOND LOAN WITH IPF PARTNERS
    * FIRST TRANCHE OF EUR 11.5 MILLION WILL BE ISSUED ON JUNE
30,
2018 AT LATEST
    * SECOND TRANCHE OF EUR 3.5 MILLION WILL BE ISSUED ON JULY
30,
2018 AT LATEST
    * LATEST AND THIRD TRANCHE OF EUR 5 MILLION COULD BE ISSUED
AT
PHARNEXT'S WILL
    * ADDITIONALY, A LINE OF CONVERTIBLE BONDS WILL BE ALSO
ISSUED
WITH YORKVILLE ADVIDORS FOR UP TO EUR 0.5 MILLION IN CONVERTIBLE
SECURITIES
    * LINE OF CONVERTIBLE BONDS WILL BE ALSO ISSUED WITH
YORKVILLE
ADVIDORS FOR UP TO €0.5 MILLION IN CONVERTIBLE SECURITIES
    * THIRD TRANCHE OF EUR 5 MILLION COULD BE ISSUED AT
PHARNEXT'S
WILL AND FOLLOWING TOP-LINE RESULTS FROM PHASE 3 TRIAL OF
PXT3003
    * €0.5 MILLION BOND ISSUE: MATURITY DATE OF ONE YEAR
FOLLOWING
THEIR DATE OF ISSUE
    * MATURITY DATE OF ONE YEAR FOLLOWING DATE OF ISSUE FOR LINE
OF
CONVERTIBLE BONDS

Source text for Eikon:  ID:nNDLblddBl 
Further company coverage:  PHARN.PA 

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