Genfit: green light to receive new funds

(CercleFinance.com) - Genfit announced on Tuesday that holders of its Océanes 2025 bonds had yesterday approved all the resolutions proposed to them at the Annual General Meeting, paving the way for the receipt of new funds.


Last month, the biopharmaceutical company specializing in liver diseases unveiled a non-dilutive financing plan in the form of royalty sharing, an operation which should enable it to reduce its debt.

But the finalization of this royalty financing agreement with the American company HCRx remained conditional on the approval by holders of Océanes 2025 of the amendment to a covenant clause.

All resolutions having been unanimously approved with a quorum of 95.8%, Genfit will now be able to proceed with the preparation of the closing of the transaction, the repurchase of the Océanes and the settlement of the financial consideration.

As a reminder, the non-dilutive royalty financing agreement signed with HCRx will enable Genfit to obtain a maximum of 185 million euros, including 130 million euros immediately.

On the Paris Bourse, Genfit shares rose by over 2% on Tuesday morning in the wake of these announcements.

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