Special Rights attached to the First and Second Tranche of Bonds
Faron Pharmaceuticals Ltd. has resolved to issue 8,000,000 Special Rights in connection with its First and Second Tranche of Bonds, with 4,000,000 rights allocated to each tranche. These rights, issued in deviation from shareholders' pre-emptive rights, are attached to the bonds and cannot be separated, covering potential future share issuances for bond amortisations unless cash payments are elected. The company is focused on tackling cancers via novel immunotherapies, with its lead asset bexmarilimab being investigated in clinical trials.
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| Faron Pharmaceuticals Ltd | Company announcement | May 28, 2026 at 15:30:00 EEST |
TURKU, FINLAND - Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company focused on tackling cancers via novel immunotherapies, announces that the Board has resolved, based on the authorisation granted by the General Meeting held on 4 May 2026, to issue 8,000,000 additional Special Rights in connection with the First and Second Tranche of Bonds (originally announced on 3 April 2025 and 11 December 2025). 4,000,000 of the Special Rights will be attached to the First Tranche of Bonds and 4,000,000 to the Second Tranche of Bonds, to cover the Company's obligations to issue shares for future first- and second-tranche amortisations, unless the Company elects to amortise in cash.
The Special Rights are issued in deviation from the shareholders’ pre-emptive rights (directed issue) without consideration to HCM as the initial subscriber of the First and Seconds Tranche of Bonds. The Special Rights are attached to the First and Second Tranche of Bonds and cannot be separated from them. Should Heights Capital Management, Inc. use its right to transfer Bonds, the Special Rights attached to the relevant bonds that have not been exercised at the time of the transfer would be simultaneously transferred to the new bondholder.
The Special Rights may only be exercised, and Shares may only be issued pursuant to such exercised Special Rights, in accordance with the First and Second Tranche Conditions.
About Bexmarilimab
About Faron Pharmaceuticals Ltd.
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