Business
Faron Issues Second Tranche of Bonds With an Aggregated Principal Amount of Eur 10 Million Under its Convertible Bond Arrangement
TURKU, FI / ACCESS Newswire / December 11, 2025 / Faron Pharmaceuticals Ltd. (AIM:FARN, First North:FARON, "Faron" or the "Company")(HEL:FARON)(LSE:FARN), a clinical-stage biopharmaceutical company developing novel immunotherapies, announced on 3 ...
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"TURKU, FI / ACCESS Newswire / December 11, 2025 / Faron Pharmaceuticals Ltd. (AIM:FARN, First North:FARON, "Faron" or the "Company")(HEL:FARON)(LSE:FARN), a clinical-stage biopharmaceutical company developing novel immunotherapies, announced on 3 April 2025 that the Company has entered into a subscription agreement (the "Subscription Agreement") with an entity managed by Heights Capital Management, Inc. ("HCM") regarding the issuance and subscription of amortising senior unsecured convertible bonds with an aggregated principal amount of EUR15 million (the "First Tranche Bonds") with an option to issue, subject to certain conditions, two additional tranches of convertible bonds (the "Second Tranche Bonds" and "Third Tranche Bonds", respectively) with an aggregated principal amount of EUR10 million each, convertible into new and/or existing shares in the Company (the "Shares") (the "Arrangement").","length":998,"tagName":"p"},{"type":"text","content":"The Company announced on 24 November 2025 that it intends to issue the Second Tranche Bonds and had requested subscription by HCM of the Second Tranche Bonds.","length":158,"tagName":"p"},{"type":"text","content":"Pursuant to the Subscription Agreement, the Board of Directors of Faron (the "Board") has resolved upon the issuance of EUR10 million of Second Tranche Bonds, due 2 December 2028, to HCM, convertible into new and/or existing Shares in the Company.","length":257,"tagName":"p"},{"type":"text","content":"The proceeds from the Second Tranche Bonds will be used for general corporate purposes, extending the Company's cash runway into Q2 2026, assuming that amortisations and interest payments on the Second Tranche Bonds, as well as the First Tranche Bonds, are made in Shares. The proceeds from the issuance of the Second Tranche Bonds will strengthen the Company's financial position and give the Company financial flexibility to run its operations while conducting the needed business activities ahead of the registrational study in HR MDS. In addition, the proceeds from the Second Tranche Bonds will enable the Company to continue evaluating further business transactions, such as licensing agreements, with a stronger financial position.","length":746,"tagName":"p"},{"type":"text...