Date: 2012-08-03
Type of information: Fundraising
Company: Genfit (France)
Investors:
Amount: €2 million
Funding type: bond loan
Planned used:
Others: Genfit, a biopharmaceutical company, focusing on the early diagnosis and preventive treatment of cardiometabolic and associated disorders, has signed a two millions euros bond loan agreement, convertible in ordinary shares of the Company, according to the powers granted to the Management Board by the 26th and 27th resolutions of the Shareholders Meeting held on June 26, 2012. Following these resolutions, the convertible bond issuance (the “Bonds”) has been reserved to YA Global
Master SPV Ltd – a holding managed by the investment company Yorkville Advisors LLC (the “Bondholder”).
The commitment fee payable to the Bondholder, equal to five per cent of the bond loan, will be fully paidup in ordinary shares of the Company at a price of 95% of the lowest volume-weighted average price for the five trading days prior to the Bonds issuance date, i.e. on July 26, 2012. This payment resulted in the issuance of 62,656 new shares, immediately assimilated to the existing shares. The number of the Company outstanding shares is thus increased to 15,148,321. During this convertible bond loan agreement, Genfit and the Bondholder have decided to suspend their Standby Equity Distribution Agreement
Therapeutic area: Cardiovascular diseases - Metabolic diseases - Liver diseases
