Inside Information: Faron Intends to Issue Second Tranche of Bonds with an Aggregated Principal Amount of Eur 10 Million Under Its Convertible Bond Arrangement

About this update from Faron Pharmaceuticals Oy

[{"type":"text","content":"TURKU, FI / ACCESS Newswire / November 24, 2025 / Faron Pharmaceuticals Ltd. (AIM:FARN, First North: FARON, "Faron" or the "Company"), 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 EUR 15 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 EUR 10 million each, convertible into new and/or existing shares in the Company (the "Shares").","length":950,"tagName":"p"},{"type":"text","content":"As previously announced on 3 April 2025, the Company may, in its sole discretion, during a twelve-month period following the announcement of the Phase II topline readout in the BEXMAB r/r MDS study, which subsequently took place on 15 April 2025, request that HCM subscribes for the Second Tranche Bonds.","length":304,"tagName":"p"},{"type":"text","content":"The Board of Directors of Faron (the "Board") has today resolved that the Company intends to issue the Second Tranche Bonds. The Company has also today, in accordance with the Subscription Agreement, delivered a request notice concerning the Second Tranche Bonds to HCM as the initial subscriber, requesting subscription by HCM of the Second Tranche Bonds in an aggregated principal amount of EUR 10 million.","length":418,"tagName":"p"},{"type":"text","content":""Drawing down the second tranche of the HCM convertible bond would give the Company the required flexibility to run its operations while conducting the needed business activities ahead of the registrational study in HR MDS. This is the exact situation for which this bond structure was designed for, and we are very pleased with HCM's continued support.", said Dr. Juho Jalkanen, CEO of Faron Pharmaceuticals.","length":423,"tagName":"p"},{"type":"text","content":"The issuance and subscription of the Second Tranche...

More updates from Faron Pharmaceuticals Oy