on GENFIT (EPA:GNFT)
GENFIT's Bondholders Approve Amendments for 2025 OCEANEs Royalty Financing
GENFIT, a biopharmaceutical company, has secured approval from its bondholders to amend terms for the 2025 OCEANEs. This decision facilitates the closing of a Royalty Financing agreement with HCRx. Expected to finalize soon, the Royalty Financing will provide GENFIT with an initial €130 million instalment.
During the recent meeting, all resolutions proposed by GENFIT were unanimously approved. This includes allowing a security interest related to the Royalty Financing. The quorum reached was 95.79%. GENFIT plans to repurchase the 2025 OCEANEs at €32.75 per bond, with settlement on March 26, 2025.
Additionally, a Consent Fee of €0.90 per bond will be paid to holders after the repurchase. The fee distribution is set for April 14, 2025. These financial maneuvers aim to bolster GENFIT's liquidity and strategic ventures.
R. H.
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