GENFIT Proposes Terms for 2025 OCEANEs Bondholders

GENFIT has announced final terms for its proposal to the holders of 2025 OCEANEs. In connection with a royalty financing agreement with HealthCare Royalty for up to €185 million, GENFIT aims to repurchase the 2025 OCEANEs at €32.00 per bond or, alternatively, offer a €0.60 consent fee per bond that remains outstanding post-meeting. This dual proposal depends on the approval of the bondholders and the closing of the royalty financing deal.

The royalty financing from January 30, 2025, plans to extend GENFIT's financial resources. GENFIT will use its share of royalties from the sale of Iqirvo® via its partner Ipsen. Approval is needed to amend terms limiting asset pledges to facilitate this financing.

GENFIT has engaged Natixis as the solicitation advisor. Affected bondholders need to approve the changes during an upcoming meeting in early March.