Financial updates
Pharming announces significant conversion of its Ordinary Convertible Bonds
Pharming Group N.V. today announced that it has issued a total of 10,563,380 new shares from within the amount allocated to conversion of the Ordinary Convertible Bonds (the “Bonds”) to redeem €3.0 million of the Bonds being converted by their holders, thereby reducing the outstanding amount of the Bonds to €8.5 million.
"This reduces by more than 25% the effect of these bonds on our quarterly net results, where the change in the underlying value of the conversion shares is responsible for the large non-cash financial adjustments under IFRS."
- Sijmen de Vries - CEO