Faron Pharmaceuticals issues warrants to IPF following convertible bond amortisation

Faron Pharmaceuticals Limited (AIM:FARN), the AIM-quoted clinical-stage biopharmaceutical company, has issued 321,523 additional warrants to IPF Fund II following the amortisation of the first and second tranche convertible bonds to Heights Capital Management at EUR 0.4516, announced on 13 April. The subscription price of all warrants held by IPF has been reset to EUR 0.4516. Following the issue, IPF holds 3.64 million warrants, representing approximately 1.83% of Faron's issued share capital.