on FERMENTALG (EPA:FALG)
Fermentalg Launches €12 Million Capital Increase with HuvePharma's Support
Fermentalg has announced a capital increase amounting to approximately €12 million, supported by its industrial partner, HuvePharma. The funds will be raised through offers to qualified investors, a reserved offer to specific beneficiaries, and a public offer via the PrimaryBid platform.
HuvePharma has committed €7.5 million, while Bpifrance plans to invest €3 million. Shares are priced at €0.40 each, a 19.22% discount on the recent average trading price. The offers will close on June 17, 2024, with the results announced shortly thereafter.
Fermentalg aims to solidify its position as a European leader in microalgae fermentation solutions with this funding. The company anticipates annual sales of €12 million, triple its 2023 revenue, and plans to achieve positive EBITDA by the second half of 2026.
R. H.
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