Krogerus advises Carnegie on Faron's capital raise

Krogerus advised Carnegie Investment Bank as lead manager and bookrunner on the EUR 30.7 million public offering of Faron Pharmaceuticals and on its preceding issuance of convertible capital loans in the total amount of EUR 3.2 million and a private placement of EUR 4.8 million.

Faron is a clinical-stage biopharmaceutical company focused on tackling cancers via novel immunotherapies and its shares are listed on Nasdaq First North Growth Market Finland and as depositary interests on AIM in the United Kingdom.

The public offering was fully subscribed. The offering consisted of a public offering to private individuals and legal entities in Finland and an institutional offering to institutional investors internationally, and a separate open offer to qualifying holders of depositary interests in the United Kingdom and elsewhere as well as a retail offer to retail investors in the United Kingdom.

The Krogerus team was led by Partner Tom Fagernäs, and he was assisted by Senior Associates Samuli Torpisto and Olli Silvennoinen and Associates Manu Honkanen, Marika Nieminen and Peter Partanen.