FARON PHARMACEUTICALS LTD: HOLDING(S) IN COMPANY
Summary by AI BETAClose X
Heights Capital Management, Inc., through CVI Investments, Inc., has acquired a significant stake in Faron Pharmaceuticals OY, crossing a notification threshold on September 14, 2026. The total holding now stands at 19.96%, comprising 8.66% of voting rights attached to shares and 11.30% through financial instruments, specifically convertible bonds with maturities in February 2027 and February 2028. This represents a decrease from their previous holding of 20.25%.
Faron Pharmaceuticals Ltd | Company announcement | September 17, 2026 at 09:00:00 EEST
TR-1: Standard form for notification of major holdings
| NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i | ||||||
| 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii: | Faron Pharmaceuticals OY | |||||
| 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) | ||||||
| Non-UK issuer | X | |||||
| 2. Reason for the notification (please mark the appropriate box or boxes with an “X”) | ||||||
| An acquisition or disposal of voting rights | X | |||||
| An acquisition or disposal of financial instruments | ||||||
| An event changing the breakdown of voting rights | ||||||
| Other (please specify) iii: | ||||||
| 3. Details of person subject to the notification obligation iv | ||||||
| Name | Heights Capital Management, Inc. | |||||
| City and country of registered office (if applicable) | San Francisco, California | |||||
| 4. Full name of shareholder(s) (if different from 3.) v | ||||||
| Name | CVI Investments, Inc. | |||||
| City and country of registered office (if applicable) | Cayman Islands | |||||
| 5. Date on which the threshold was crossed or reached vi: | 14/09/2026 | |||||
| 6. Date on which issuer notified (DD/MM/YYYY): | 14/09/2026 | |||||
| 7. Total positions of person(s) subject to the notification obligation | ||||||
| % of voting rights attached to shares (total of 8. A) | % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) | Total of both in % (8.A + 8.B) | Total number of voting rights held in issuer (8.A + 8.B) vii | |||
| Resulting situation on the date on which threshold was crossed or reached | 8.66% | 11.30% | 19.96% | 45,495,191 | ||
| Position of previous notification (if applicable) | 8.95% | 11.30% | 20.25% | |||
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii | |||||||||
| A: Voting rights attached to shares | |||||||||
| Class/type of shares ISIN code (if possible) | Number of voting rights ix | % of voting rights | |||||||
| Direct (DTR5.1) | Indirect (DTR5.2.1) | Direct (DTR5.1) | Indirect (DTR5.2.1) | ||||||
| 19,735,191 | 25,760,000 | 8.66% | 11.30% | ||||||
| SUBTOTAL 8. A | 45,495,191 | 19.96% | |||||||
| B 1: Financial Instruments according to DTR5.3.1R (1) (a) | |||||||||
| Type of financial instrument | Expiration date x | Exercise/ Conversion Period xi | Number of voting rights that may be acquired if the instrument is exercised/converted. | % of voting rights | |||||
| Convertible Bond | 08/02/2027 | Anytime until maturity | 10,080,000 | 4.42% | |||||
| Convertible Bond | 12/02/2028 | Anytime until maturity | 15,680,000 | 6.88% | |||||
| SUBTOTAL 8. B 1 | 25,760,000 | 11.30% | |||||||
| B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) | |||||||||
| Type of financial instrument | Expiration date x | Exercise/ Conversion Period xi | Physical or cash Settlement xii | Number of voting rights | % of voting rights | ||||
| SUBTOTAL 8.B.2 | |||||||||
| 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) | ||||
| Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii | ||||
| Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) xiv | ||||
| Name xv | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold | |
| Heights Capital Management, Inc. | 8.66% | 11.30% | 19.96% | |
| CVI Investments, Inc. | 8.66% | 11.30% | 19.96% | |
| 10. In case of proxy voting, please identify: | ||||
| Name of the proxy holder | ||||
| The number and % of voting rights held | ||||
| The date until which the voting rights will be held | ||||
| 11. Additional information xvi | ||||
| None | ||||
| Place of completion | London, United Kingdom |
| Date of completion | 14.09.2026 |
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