(CercleFinance.com) – Carmat announced on Friday that it had managed to raise 16 million euros during a fundraising campaign which will allow it to continue its operations until mid-August 2024.
This new financing comes from 14.2 million euros of subscriptions from specialized investors and 1.8 million euros from individual investors via the PrimaryBid platform.
This amount is larger than expected, since the group declared yesterday that it was targeting a capital increase of around 15 million euros.
The issue price of the new shares was however set at three euros per share, a discount of 26.5% compared to the last closing price on Wednesday evening.
The designer of artificial hearts explains that these funds will allow it to continue the development of its production and sales, as well as its clinical trial carried out in France.
According to the group, the net proceeds from the operation will give it sufficient visibility to continue its activities until mid-August.
‘A strengthening of its cash flow is therefore expected in the meantime, which could cap the stock in the coming weeks,’ Oddo BHF analysts warned this morning.
The research office says it has lowered its price target from nine to 6.8 euros in order to take into account the dilutive effect of the transaction.
Note that Carmat declared itself confident of a substantial gradual increase in its sales over the coming months, still targeting a turnover of around 14 million euros in 2024.
Carmat shares remained suspended on Friday morning on the Paris Stock Exchange following these announcements.