October 1st 2025
Paris, October 1, 2025 – 7:30 am (CEST)
CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today provides an update on the ongoing receivership procedure.
Update on the ongoing receivership procedure
Following a call for public tenders (buyers or investors) initiated as part of the receivership opened on July 1, 2025, by the Versailles Economic Court[1] (the “Court”), the judiciary administrator had received, on July 31, 2025, one takeover bid within the context of a sales plan (the “Bid”)[2], submitted by HOUGOU, the family office of Mr Pierre Bastid (the “Buyer”), who is CARMAT’s chairman of the board and holds about 17% of CARMAT shares.
During a hearing held on August 19, 2025, the Court had granted the Buyer more time to finalize his Bid and lift the conditions precedent with a view to then get the Bid assessed by the Court during a hearing scheduled on September 30, 2025.
During the hearing on September 30, 2025, the Court acknowledged that the Bid had lapsed, given the fact that the Buyer had not been able to lift all conditions precedent, notably the one relating to securing the financing required for the takeover bid.
The judiciary administrator has thus submitted to the Court a request aiming at converting the receivership into a liquidation procedure, which should be reviewed by the Court during a hearing scheduled on October 14, 2025.
At this stage, it is thus now extremely probable that the Court will, on October 14, 2025, decide the liquidation of the Company, which operations will then stop.
CARMAT again draws attention to the fact that in that case, given the Company’s level of liabilities, it is highly probable that the shareholders will lose the total value of their investment, while a major part of CARMAT’s creditors will incur a very significant loss of up to the total value of their receivables. The Company also reminds that a liquidation will lead to the delisting of its shares currently listed on Euronext Growth (Paris).
Next Steps
Trading of CARMAT shares (ISIN code: FR0010907956, Ticker: ALCAR) remains suspended.
Another press release will be issued by the Company once the outcome of the court hearing scheduled on October 14, 2025 is known.
In any case, the support to patients who currently benefit from its Aeson® artificial heart, is CARMAT’s priority, so the Company endeavors for this continuous support to get provided even if CARMAT is liquidated and its operations stop.
[1] Tribunal des Activités Economiques de Versailles.
[2] « Offre de reprise en plan de cession » (in French).