Convertible Bonds Financing Program with a maximum nominal total amount of EGP 81 million

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( – Farnext Announces the launch of a convertible bond financing program with a maximum nominal total of €81 million to increase cash flow and continue funding the pivotal Phase III clinical study for PXT3003, the PREMIER trial, in Charcot-Marie-Tooth disease type 1A (CMT1A).

Process characteristics

Funding of 35 tranches of OCEANE-BSA up to a total nominal amount of €81 million over 36 months, subject to customary terms, and for tranches 17 to 35, for approval of a specific mandate by the combined general meeting on 30 June 2021.
The issuance of the first tranche of OCEANE bonds with a total nominal amount of 5.5 million euros.
The maximum potential dilution resulting from 35 OCEANE-BSA for a shareholder owning 1% of the company’s share capital prior to financing will result in owning 0.38% of the share capital after withdrawing and transferring all OCEANEs and exercising the guarantees.

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