Pharming Group N.V. announced the placement of €125 million of senior unsecured convertible bonds due 2025 (the "Bonds"). The offer was fully subscribed. The Bonds were offered via an accelerated book building process through a private placement only to institutional investors outside the United States of America, Australia, South Africa and Japan. The net proceeds of the issue of the Bonds will be used to redeem the approximately $56 million loan with Orbimed Advisors in full, thereby reducing the Company's financing costs and extending its debt maturity through the period to approval of most of the Company's existing pipeline. The balance of the net proceeds will be used to support capital expenditure in relation to the expansion of the commercialisation and manufacturing infrastructure of the Company, and serve as funding for the launch of Pharming's recently acquired Leniolisib product and for additional acquisitions/inlicensing opportunities. The Bonds will have a principal amount of €100,000 each. The Bonds will be issued at par and will carry a coupon of 3.00% per annum payable semi-annually in arrear in equal instalments. Unless previously converted, redeemed or purchased and cancelled, the Bonds will be redeemed at par on 21 January 2025. The Bonds will be convertible into ordinary shares of the Company (the "Shares") with the initial conversion price which has been set at €2.0028, representing a premium of 40% above the volume weighted average price (VWAP) of an ordinary share in the share capital of the Company on Euronext Amsterdam between opening of trading on the launch date and the pricing of the offering of the Bonds (i.e. €1.4306). This initial conversion price will be subject to customary adjustment provisions as will be set out in the terms and conditions of the Bonds. The number of ordinary shares initially underlying the Bonds is 62,412,622, representing 9.9% of the Company's current issued share capital. Any adjustment to the conversion price resulting in an increase in the number of conversion chares may require the Company to obtain further authorisation from its shareholders to issue Shares, grant rights to subscribe for Shares and exclude pre-emptive rights.