June 30th 2025
Suspension of CARMAT shares trading starting June 30, 2025, before stock market opening
Paris, June 30, 2025 – 7:00 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 announces filing for insolvency[1] and requesting to be placed in receivership[2] to the Versailles Economic Affairs Court[3], as well as the suspension of CARMAT shares trading, starting June 30, 2025, before stock market opening.
Insolvency filing and request to be placed in receivership
On June 20, 2025, CARMAT announced in a press release being at risk of insolvency as early as the end of June 2025 unless managing before then, to secure additional cash of at least €3.5 million.
Despite its continued efforts, the Company has not managed at this stage, to secure neither additional cash nor new financing.
Given this, the Company will today file for insolvency and request to be placed in receivership to the Versailles Economic Affairs Court (“the Court”).
The Court will rule on this request, following a hearing expected in the coming days.
As a reminder, according to its current business plan and assuming “business as usual” situation, the Company estimates its funding requirements over the next 12 months at approximately €35 million, including approximately €20 million by the end of December 2025.
[1] « Déclaration de cessation des paiements »
[2] « Redressement judiciaire »
[3] « Tribunal des Affaires Economiques de Versailles »