RE: Up she goes10 May 2018 13:46
Successful over-subscribed fundraising of �15.0 million through Placing and Subscription
TURKU - FINLAND, 21 February 2018 - Faron Pharmaceuticals Oy ("Faron") (AIM: FARN), the clinical stage biopharmaceutical company, is pleased to announce that, following the announcement on 16 February 2018, the proposed Placing and Subscription has been subscribed for in full, in satisfaction of the Placee Condition. Pursuant to the Placing and Subscription, the Company is raising approximately �15.0 million before expenses by way of the Placing of 1,729,350 Placing Shares and the Subscription of 134,000 Subscription Shares at the Issue Price of 805 pence per share. The Placing and Subscription have been supported by the participation of existing and new institutional shareholders. The Board of Directors of Faron has resolved on and approved the issuance of the Placing Shares and the Subscription Shares pursuant to the existing authorisation granted by shareholders at the Company's Annual General Meeting held on 16 May 2017. Very likely