on NEOVACS (EPA:ALNEV)
NEOVACS raises 0.5 million euros to finance its research projects
French biotechnology company Néovacs announced a €0.5 million fundraising through the issuance of OCEANE-BSA bonds. This transaction was underwritten by the European High Growth Opportunities Securitization Fund, with net proceeds of €480,000. The funds will be used to support the Kinoïde® allergy research program and strengthen investment capacity in biotechnology and medical device projects.
Anticipating a significant dilutive impact, the offering could result in the creation of up to 159,999,999 new shares. Previous offerings have already generated an additional 24 billion shares, significantly reducing the shareholding of existing shareholders.
The company emphasizes the risks associated with these dilutive transactions, citing potential downward pressure on the stock. Investors are urged to exercise caution given the company's capital growth. Neovacs nevertheless confirms that it is able to meet its financial obligations for the next 12 months.
R. H.
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