GENFIT DRAWS DOWN €250K ON ITS CREDIT FACILITY WITH YORKVILLE
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First draw from the €5M Standby Equity Distribution Agreement signed in July 2011.
Lille (France), Cambridge (Massachusetts, United States), February 22th, 2012 - GENFIT (Alternext: ALGFT; ISIN: FR0004163111), a biopharmaceutical company at the forefront of drug discovery and development, focusing on the early diagnosis and preventive treatment of cardiometabolic and associated disorders, today announces that it has drawn down the first funds from the credit facility set up with Yorkville Advisors.
Following the equity financing contract that grants the Company a total credit line of 5 million Euros payable in shares, Yorkville and GENFIT have mutually decided to raise the first two advances to more than the €200,000 previously agreed. GENFIT has therefore activated the first draw with the following details:
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Subscription amount €250,001.45
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Number of shares issued 96,184
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Share capital increase €24,046
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Unit subscription price €2.5992
About GENFIT:
GENFIT is a biopharmaceutical company focused on the Discovery and Development of drug candidates in therapeutic fields linked to cardiometabolic disorders (prediabetes/diabetes, atherosclerosis, dyslipidemia, inflammatory diseases.). GENFIT uses a multi-pronged approach based on early diagnosis, preventive solutions, and therapeutic treatments and advances therapeutic research programs, either independently or in partnership with leading pharmaceutical companies (SANOFI, SERVIER, .), to address these major public health concerns and their unmet medical needs.
GENFIT's research programs have resulted in the creation of a rich and diversified pipeline of drug candidates at different stages of development, including GENFIT's lead proprietary compound, GFT505, that is currently in Phase II. With facilities in Lille, France, and Cambridge, MA (USA), the Company has approximately 100 employees. GENFIT is a public company listed on the Alternext trading market by Euronext(TM) Paris (Alternext: ALGFT; ISIN: FR0004163111). www.genfit.com
Contacts:
GENFIT
Jean-François Mouney - CEO & Chairman of the Management Board
+33 (0)3 2016 4000
Milestones - Press Relations
Bruno Arabian
+33 (0)1 75 44 87 40 / +33 (0)6 87 88 47 26 - barabian@milestones.fr
