1st Oct 2021 11:45
Faron Pharmaceuticals Oy - Turku, Finland-based clinical stage biopharmaceutical company - Places 2.8 million shares at EUR3.80 each, raising EUR10.5 million. Represents 9.4% discount to volume weighted average price on Thursday. Announced placing after market close on Thursday. Placing shares amount to around 5.5% of Faron's issued share capital immediately prior to the placing. European Investment Council Fund, which gave pre-commitment, is among the largest investors. Swedbank acts as lead manager and sole bookrunner for the placing. Faron says the money means it now has sufficient working capital until the third quarter of 2022.
Current stock price: 350.00 pence, down 6.7% on Friday, equivalent to EUR4.08
Year-to-date change: up 35%
By Josie O'Brien; [email protected]
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Faron Pharmaceuticals