Phaxiam: capital increase of ten million euros

(CercleFinance.com) - On Wednesday, Phaxiam announced the launch of a capital increase of around ten million euros with shareholders' preferential subscription rights (DPS), a particularly dilutive operation which caused the share price to fall on the Paris stock exchange.


The funds will be raised on the basis of a parity of five new shares for six existing shares and a subscription price of two euros per new share, for a subscription period running from June 17 to June 25, the company said in a press release.

The transaction, which could be raised to around 11.5 million euros if the extension clause is exercised in full, should enable the company to finance its activities until March 2025.

At operational level, the funds should enable it to advance its clinical trial portfolio, with the launch of an initial Phase II clinical trial in the treatment of Staphylococcus aureus infections of osteoarticular prostheses.

The subscription price of the new shares reflects a 30.3% discount to the last stock market price.

In terms of dilution, a shareholder holding 1% of the capital and not participating in the capital increase would hold 0.55% of the capital following the operation.

At around 12:00 pm, the share price was down by around 6%, with volumes already representing more than four times those traded, on average, over the last four trading sessions on Euronext.

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