Faron Pharmaceuticals Oy has announced the issuance of special rights, or warrants, to IPF Fund II SCA, SICAV-FIAR, as part of a funding arrangement. The warrants entitle IPF to subscribe for new ordinary shares in the company at a predetermined exercise price. The number of warrants issued to IPF is calculated based on the original loan amount, and they are exercisable for a period of seven years. The company's Board of Directors has resolved upon a warrant program directed to IPF, with a preliminary amount of warrants issued and the maximum total number of warrants to be granted being 1,500,000.
The company is in advanced negotiations with various investors to secure immediate funding, as it confirms that its current cash balance is sufficient to continue operations into April 2024. However, the company notes that there is no guarantee that the required funds will be raised. Faron Pharmaceuticals Oy will provide updates on any material developments regarding its financial position.
For more information, interested parties can contact the company's investor relations and financial advisors. The terms and conditions of the warrants are available on the company's website.