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Faron Pharmaceuticals Ltd: Approval of Share ...
Faron Pharmaceuticals has approved the exercise of special rights to issue 909,517 new shares for an aggregate subscription price of EUR 1,549,998.87, settling amortisation payments for its convertible bonds. This issuance, at EUR 1.7042 per share, covers EUR 945,000 for the First Tranche Bonds and EUR 605,000 for the Second Tranche Bonds. Following registration, expected around February 3, 2026, the new shares will rank pari passu with existing shares, and admission to trading on AIM and Nasdaq First North is anticipated by February 5, 2026. The total number of voting rights will be 115,783,961. Disclaimer*
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n\n \n Faron Pharmaceuticals Ltd | Company announcement | February 03, 2026 at 09:00:00 EET\nTurku, 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 909,517 special rights entitling to 909,517 new Shares, for an aggregate subscription price of EUR 1,549,998.87 in connection with the scheduled amortisation payment of the First Tranche Bonds (as defined below), occurred on 2 February 2026.\nThe 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”). On 11 December 2025 the Company announced that it had resolved upon the issuance of a second tranche of convertible bonds amounting to EUR 10 million (the “Second Tranche Bonds”) due 2 December 2028, to HCM, convertible into new and/or existing Shares in the Company. 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 and the Second Tranche Bonds.The Company has received a scheduled amortised payment notice from the bondholder for an aggregate amortised payment amount (including accrued interest) of EUR 945,000 for First Tranche bonds and EUR 605,000 for Second Tranche Bonds. Therefore, total aggregate amortised payment amount (including accrued interest) is EUR 1,550,000. As the Company has exercised its Share Settlement Option, the subscription price for the Shares subscribed for by the bondholder is EUR 1.7042 per Share, corresponding to 90 per cent of the lowest of (i) the volume wei...