Business
Result of Open Offer and Further Subscription
Result of Open Offer and Further Subscription.
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n \nRNS Number : 2299K Faron Pharmaceuticals Oy 27 August 2019 \n\nNEITHER THIS ANNOUNCEMENT NOR ANY PART OF IT CONSTITUTES AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR ACQUIRE ANY SECURITIES IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, SINGAPORE, HONG KONG OR ANY JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN\n \nFaron Pharmaceuticals Oy\n(\"Faron\" or the \"Company\")\n \nResult of Open Offer and Further Subscription\n \nTURKU - FINLAND, 27 August 2019 - Faron Pharmaceuticals Oy (\"Faron\") (AIM: FARN), the clinical stage biopharmaceutical company, announces that following its announcement on 6 August 2019 (the \"Open Offer Announcement\"), it has received valid acceptances and excess applications from Qualifying Shareholders in respect of a total of 859,513 Open Offer Shares pursuant to the terms of the Open Offer, raising gross proceeds of approximately €1.01 million (£0.92 million) at the Issue Price of £1.06 per share in respect of Qualifying DI Holders and at the Euro Issue Price of €1.19 in respect of Qualifying non-DI Holders. \n \nIn addition to subscriptions under the Open Offer by Qualifying Shareholders the Company has accepted additional subscriptions for 320,000 new Ordinary Shares (being Open Offer Shares not subscribed for under the Open Offer) (\"Further Subscription Shares\") at the Euro Issue Price of €1.19 to raise additional gross proceeds of approximately €0.38 million (the \"Further Subscription\"). The Company has therefore raised approximately €2.5 million (£2.3 million) (before expenses) in aggregate through the Subscription (details of which were included in the Open Offer Announcement), Further Subscription and Open Offer. \n \nShareholders and investors should note that the net proceeds of the Subscription, Open Offer and Further Subscription, of €2.5 ...