CARMAT announces the completion of its capital increase for a gross amount of €16.5 million, including the exercise by the Lead Manager and Bookrunner of the overallotment option for an amount of €1.5 million

CARMAT announces the completion of its capital increase for a gross amount of €16.5 million, including the exercise by the Lead Manager and Bookrunner of the overallotment option for an amount of €1.5 million

• The funds raised represent 110% of the Initial Offer; the net amount of €14.9 million will contribute to the Company’s short-term financing

• Together, demand and underwriting and guarantee commitments reached €18.8 million and were allocated as follows:
  €9.2 million as part of the global offering, including €7.8 million in subscription commitments (100% allocation) and €1.4 million in guarantee commitments (24% allocation), representing 56% of the Offer
  €7.3 million as part of the public offering, i.e. a 100% allocation, representing 44% of the Offer

• After the Offer, the Company’s 12-month financing need amounts to c. €50 million (with a cash runway to end-February 2024), which could be reduced to €35 million (with a cash runway to mid-May 2024) in the case of a definitive agreement with the EIB^[1]

^[1]     For further details on this agreement, please refer to the Company’s press release dated January 12, 2024.

Paris, January 29, 2024 – 7 am (CET)

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”), announces the completion of its capital increase by way of a public offering without preferential subscription rights for a total gross amount of €16.5 million, including the partial exercise of the overallotment option granted by the Company to the Lead Manager and Bookrunner, for a gross amount of €1.5 million.

Stéphane Piat, Chief Executive Officer of CARMAT, said: “I would like to thank all investors, both historical and new, individual and institutional, who have contributed to the success of this capital increase, and thus demonstrated their confidence in the development of our Company. The funds raised will, in the coming weeks and months, enable us to build on the sales momentum initiated in the fourth quarter of 2023. More and more patients will thus be able to benefit from our unique therapy. We are more than ever determined to move forward and make Aeson® a reference therapy in the treatment of advanced biventricular heart failure.”

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