Genfit sinks after raising EUR 33.9M

Genfit S.A. (Euronext:GNFT) raised EUR 33.9 million ($38.1 million) through the sale of 1.7 million shares at EUR 20 in a private placement. On Wednesday after market hours, the company proposed to raise EUR 30 million ($33.7 million). Genfit slipped EUR 2.73 (11%) to EUR 21.30 on Thursday.

Genfit said the private placement is the "first step" in a planned EUR 75-EUR 80 million ($84.2-$89.8 million) financing. The company plans to raise about EUR 45 million ($50.5 million) in a rights issue that will be launched "shortly." ...