Pharnext SA (ENXTPA:ALPHA) announced a private placement financing of €11 million on February 3, 2021. The company will issue 1,754,385 shares at issue price of €3.42 per share for gross proceeds of €6,000,000 and one warrant to existing shareholders, CB Lux for 1,023,392 shares and Lohas S.À R.L. for 730,994 shares and €5,000,000 convertible bonds issued to Vester Finance and two other European investors. The European investors have also provided written indication of strong interest for the potential of additional €25 million of convertible bonds depending on future market conditions. Each warrant can be exercisable to purchase one share of the company at an exercise price of €4.45 per share for a period of 60 months from the date of issuance. The bonds are issued at a 5% discount. The convertible bonds will bear no interest and will mature on February 4, 2024. The bonds will be converted into shares of the company at a conversion price equal to the lowest of €4.25 and 93% of a lowest daily VWAP over the 15 trading-day period preceding such conversion. The stake of CB Lux will increase from 21.09% to 24.14% and Lohas S.À R.L to 14.45% from 12.02% post-closing of the transaction. The board of directors approved the transaction. Nominal value of bond is €5,473,685. On the same day, the company issued shares to the existing investors CB Lux and Lohas S.À R.L in the first tranche closing.