GENFIT's Bondholders Approve Amendments for 2025 OCEANEs Royalty Financing

GENFIT, a biopharmaceutical company, has secured approval from its bondholders to amend terms for the 2025 OCEANEs. This decision facilitates the closing of a Royalty Financing agreement with HCRx. Expected to finalize soon, the Royalty Financing will provide GENFIT with an initial €130 million instalment.

During the recent meeting, all resolutions proposed by GENFIT were unanimously approved. This includes allowing a security interest related to the Royalty Financing. The quorum reached was 95.79%. GENFIT plans to repurchase the 2025 OCEANEs at €32.75 per bond, with settlement on March 26, 2025.

Additionally, a Consent Fee of €0.90 per bond will be paid to holders after the repurchase. The fee distribution is set for April 14, 2025. These financial maneuvers aim to bolster GENFIT's liquidity and strategic ventures.