(AOF) – Carmat (-6.40% to 4.16 euros) is down after the announcement of the completion of its capital increase with removal of shareholders’ preferential subscription rights for a total gross amount of 16.5 millions of euros. The artificial heart specialist adds that the funds raised represent 110% of the initial offer. It estimates its financing need over 12 months at around 50 million euros, with a financial horizon of the end of February 2024.
This need could be reduced to 35 million euros and the financial horizon extended to mid-May 2024 in the event of a final agreement with the EIB. Carmat is continuing its development and “intends to be free to implement other initiatives aimed at securing additional financing and easing its cash flow constraints”.
Carmat underlines that the impact of the offer on the participation in the capital of a shareholder holding 1% of the capital previously and not subscribing to it means that he will only hold 0.86%, after issue of approximately 4.14 million new shares.
The medtech company is targeting a turnover of around 14 to 20 million euros for 2024. Invest Securities notes that this objective “presupposes a strong acceleration of implementations in 2O24, with an almost doubling (estimated) of the quarterly implementation rate compared to the fourth quarter of 2023”.
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