Date: 2014-12-10
Type of information: Private placement
Company: Genfit (France)
Investors:
Amount: € 21 million
Funding type: private placement
Planned used: The proceeds of this transaction will be used to accelerate the clinical development of GFT505 in other indications than NASH, including initiation of a GFT505 phase IIa in Crohn Disease, to initiate and advance the clinical development of new in-licensed coumpound(s) in Genfit’s therapeutric areas of excellence. They will also be used to prepare the GFT505 phase 3 in NASH.
Others: * On December 10, 2014, Genfit, a biopharmaceutical company at the forefront of developing therapeutic and diagnostic solutions in
metabolic and inflammatory diseases, that notably affect the liver or the gastrointestinal system, announced that it has raised
gross proceeds of approximately € 21 million in a private placement to institutional investors, including in the United-states. Genfit issued 583.433 new shares to international institutional investors at a price of € 35.95 per share, i.e. a discount of 5% on the average of the volume weighted average price of each trading days from December 5, 2014 to December 9, 2014. The offering represents 2.5% of the pre-transaction share capital and will bring the total number of shares after the issuance to 23,957,671, representing a dilution
of 2.44% for the existing shareholders. The capital increase was carried out without shareholders’ preferential subscription rights according to Article L.225-136 of the French Commercial Code and the fourth resolution of the Shareholders General Meeting of April 2,
2014.
Therapeutic area: Metabolic diseases - Liver diseases
