Brief: Pharnext Announces New Financing Through Convertible Bond Program For Up To 81 Mln Euros

Pharnext SCA

07/06/2021 07:06

June 7 (Reuters) - PHARNEXT SA  PHARN.PA :
    * PHARNEXT ANNOUNCES A NEW FINANCING THROUGH A CONVERTIBLE
BOND
PROGRAM FOR A TOTAL AMOUNT UP TO €81 MILLION GROSS TO EXTEND ITS
CASH RUNWAY AND TO CONTINUE TO FUND ITS PIVOTAL PHASE III STUDY
    * PHARNEXT ANNOUNCES A NEW FINANCING THROUGH A CONVERTIBLE
BOND
PROGRAM FOR A TOTAL AMOUNT UP TO €81 MILLION GROSS TO EXTEND ITS
CASH RUNWAY AND TO CONTINUE TO FUND ITS PIVOTAL PHASE III STUDY
    * ISSUANCE OF FIRST TRANCHE OF A GROSS PAR VALUE OF EUR 5.5
MILLION
    * MAXIMUM POTENTIAL DILUTION 35 OCEANE-BSA TRANCHES WOULD
LEAD A
SHAREHOLDER HOLDING 1% OF SHARE CAPITAL BEFORE FINANCING TO HOLD
0.38% OF SHARE CAPITAL AFTER FULL DRAWDOWN AND CONVERSION AND
EXERCISE OF OCEANE AND BSA
    * OCEANE-BSA WILL BE ISSUED UPON EXERCISE OF WARRANTS ISSUED
FREE
OF CHARGE ON JUNE 4,2021 FOR A 36-MONTH DURATION
    * FIRST TEN TRANCHES OF OCEANE BONDS REPRESENTING AN
AGGREGATE NET
CASH-IN OF EUR 23.51 MILLION AFTER DEDUCTION OF TOTAL COMMITMENT
FEE WILL EXTEND COMPANY'S FINANCING HORIZON UP UNTIL Q1 OF 2022
    * EACH OCEANE SHALL HAVE A PAR VALUE OF EUR 10,000

Source text for Eikon:  ID:nEQ8WflLLa 
Further company coverage:  PHARN.PA 

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