Fredag 8 Augusti | 00:10:53 Europe / Stockholm

Prenumeration

Kalender

Est. tid*
2025-08-27 08:00 Kvartalsrapport 2025-Q2
2025-03-24 - X-dag ordinarie utdelning FARON 0.00 EUR
2025-03-21 - Årsstämma
2025-02-27 - Bokslutskommuniké 2024
2024-08-28 - Kvartalsrapport 2024-Q2
2024-03-25 - X-dag ordinarie utdelning FARON 0.00 EUR
2024-03-22 - Årsstämma
2024-03-14 - Bokslutskommuniké 2023
2023-08-29 - Kvartalsrapport 2023-Q2
2023-03-27 - X-dag ordinarie utdelning FARON 0.00 EUR
2023-03-24 - Årsstämma
2023-03-03 - Bokslutskommuniké 2022
2022-08-25 - Kvartalsrapport 2022-Q2
2022-07-07 - Extra Bolagsstämma 2022
2022-04-25 - X-dag ordinarie utdelning FARON 0.00 EUR
2022-04-22 - Årsstämma
2022-03-25 - Bokslutskommuniké 2021
2021-08-26 - Kvartalsrapport 2021-Q2
2021-04-26 - X-dag ordinarie utdelning FARON 0.00 EUR
2021-04-23 - Årsstämma
2021-03-25 - Bokslutskommuniké 2020
2020-05-14 - X-dag ordinarie utdelning FARON 0.00 EUR
2020-05-13 - Årsstämma
2020-03-20 - Bokslutskommuniké 2019

Beskrivning

LandFinland
ListaFirst North Finland
SektorHälsovård
IndustriBioteknik
Faron Pharmaceuticals är verksamt inom medicinteknik. Bolaget bedriver forskning och utveckling av terapeutiska lösningar som används för behandling av immuna sjukdomar och diverse organskador. Störst verksamhet återfinns inom Nordamerika samt Europa, med sjukhus och forskningsinstitut som dominerande kundbas. Utöver huvudverksamheten erbjuds diverse mervärdestjänster. Huvudkontoret ligger i Turku.
2025-08-07 08:00:00

Faron Pharmaceuticals Ltd | Company announcement | August 07, 2025 at 09:00:00 EEST

Turku, Finland – Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company developing novel immunotherapies, announces that the Company has approved the exercise of 857,322 special rights entitling to 857,322 existing treasury shares, for an aggregate subscription price of EUR 1,682,067, in connection with an advanced amortisation payment of the First Tranche Bonds (as defined below), which will occur latest on 8 August 2025. In addition, the Company has made the second scheduled amortisation payment of the First Tranche Bonds in cash on 2 August 2025.

The Company announced on 3 April 2025 that it had entered into a convertible bond arrangement for up to EUR 35 million with an entity managed by Heights Capital Management, Inc. (“HCM”) and resolved upon the issuance of amortising senior unsecured convertible bonds with an aggregated principal amount of EUR 15 million (the “First Tranche Bonds”) due 2 April 2028 to HCM, convertible into new and/or existing shares in the Company (the “Shares”). HCM (or any future holders of the majority of the First Tranche Bonds) may, at any time between scheduled amortisations, exercise their right to bring forward up to two (2) additional amortisation payments (an “Accelerated Amortisation”) to be paid in advance, with a limit of no more than nine (9) Accelerated Amortisations in the first year of the term of the First Tranche Bonds. As previously announced, the Board of Directors of Faron has resolved to make amortisations and interest payments by converting the relevant amounts due into Shares (“Share Settlement Option”), unless it separately decides to make payments in cash. The exercise of the Company’s Share Settlement Option is effected by the bondholders exercising special rights entitling into Shares, as referred to in Chapter 10 of the Finnish Companies Act (“Special Rights”), issued in connection with the issuance of the First Tranche Bonds.

The Company has on 6 August 2025 received an amortised payment advancement notice from the bondholder for an aggregate amortised payment amount (including accrued interest) of EUR 1,682,067. As the Company has exercised its Share Settlement Option, the subscription price for the Shares subscribed for by the bondholder is EUR 1.962 per Share, corresponding to 90 per cent of the lowest of (i) the volume weighted average price (“VWAP”) of a Share on the relevant payment date, and (ii) the lowest of the VWAPs of a Share on each of the five consecutive dealing days ending on (and including) the dealing day immediately preceding the relevant payment date]. Therefore, the Company has approved the exercise of 857,322 Special Rights entitling to 857,322 existing treasury Shares, for an aggregate subscription of EUR 1,682,067. The subscription price for the Shares subscribed for pursuant to the Special Rights is paid by setting off the Company’s debt to pay relevant amounts due under the First Tranche Bonds and recorded into the reserve for invested unrestricted equity. The new Maturity Date of the Bond is 2 December 2027.

The 857,322 Shares subscribed for rank pari passu in all respects with the existing shares of the Company and are admitted to trading on Nasdaq First North Growth Market Finland (“First North“) maintained by Nasdaq Helsinki Ltd (“Nasdaq Helsinki“) and on AIM (“AIM“), the market of that name operated by London Stock Exchange plc (the “LSE“).

Following the issuance, the aggregate number of ordinary shares in issue in the Company remains 116,954,597. Shares held in treasury by the Company do not confer a right to dividends or other shareholder rights. Following the issuance, the Company will have 4,142,678 shares in treasury and therefore, the total number of voting rights in Faron will be 112,811,919 (the “Number of Shares and Votes“). This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify an interest in, or a change to their interest in, the Number of Shares and Votes of the Company.

For more information, please contact:

IR Partners, Finland
(Media)
Riina Tuominen
Kare Laukkanen
+358 44 313 5005
riina.tuominen@irpartners.fi
+358 50 553 9535 / +44 7 469 766 223
kare.laukkanen@irpartners.fi
FINN Partners, US
(Media) 
Alyssa Paldo 
+1 847 791-8085 
alyssa.paldo@finnpartners.com
Cairn Financial Advisers LLP
(Nominated Adviser and Broker)
Sandy Jamieson, Jo Turner
+44 (0) 207 213 0880
Sisu Partners Oy
(Certified Adviser on Nasdaq First North)
Juha Karttunen
Jukka Järvelä
+358 (0)40 555 4727
+358 (0)50 553 8990

About Faron Pharmaceuticals Ltd

Faron (AIM: FARN, First North: FARON) is a global, clinical-stage biopharmaceutical company, focused on tackling cancers via novel immunotherapies. Its mission is to bring the promise of immunotherapy to a broader population by uncovering novel ways to control and harness the power of the immune system. The Company’s lead asset is bexmarilimab, a novel anti-Clever-1 humanized antibody, with the potential to remove immunosuppression of cancers through reprogramming myeloid cell function. Bexmarilimab is being investigated in Phase I/II clinical trials as a potential therapy for patients with hematological cancers in combination with other standard treatments. Further information is available at www.faron.com.