France: Pharnext strengthens cash position with €81m convertible bonds

Advanced clinical-stage biopharmaceutical company, Pharnext, has issued 8,100 warrants giving access to bonds convertible into new shares, or exchangeable into existing shares, with Alpha Blue Ocean, the London-based alternative credit investor. Warrants have a par value of €10,000 (US$12,100) each in 35l tranches, providing the company with €81m in financing. Proceeds of the financing program,…