Pharming announces further conversion of its Ordinary Convertible Bonds
Today Pharming announced that it has issued a total of 25,441,901 new shares and €1.9 million of cash to redeem €7.7 million of the Ordinary Convertible Bonds (“Bonds”).
Following this conversion election in late December 2017, 94% of the outstanding bonds have now been redeemed, leaving only €0.8 million remaining Bonds.
“Since re-acquiring the rights to RUCONEST® we have built a self-sustaining and independent sales led pharmaceutical business, which is now profitable and cash generative."- Dr Sijmen de Vries, Pharming's CEO