Pharnext S.A. (ENXTPA:ALPHA) announced that it has entered into a strategic agreement for a private placement for gross proceeds of 20,000,000 on May 9, 2017. The transaction will include participation from Tasly Pharmaceutical Group Co., Ltd. (SHSE:600535). The company will issue 400,000 common shares at a price of 12.5 per share for proceeds of 5,000,000, and convertible bonds with the conversion price of 13 per share for proceeds of 15,000,000.
Pursuant to the transaction, the investor will acquire 12.6% stake in the company.