Valneva Announces Raising Approximately $40 Million in Proposed…

Valneva Announces Raising Approximately $40 Million in Proposed…


Saint Herblain (France), September 28, 2022 – Valneva SE VALNVLA (the “Company”), a specialty vaccines company, today announced its intention to issue and sell, subject to market conditions, approximately $40 million of its common stock to certain categories of investors in a global offering consisting of (i) a public offering of its American Depositary Shares (“ADSs”), each representing two common shares, in the United States (the “US Offering”) and (ii) a concurrent private placement of its common shares in certain jurisdictions outside the United States (the ” European Private Placement” and together with the US Offering, the “Global Offering”).

Goldman Sachs, Jefferies, Guggenheim Securities and Bryan, Garnier & Co. are acting as Joint Bookrunners for the Global Offering.

All securities to be sold in the global offering will be offered by the Company. The ADSs are listed on the Nasdaq Global Select Market under the symbol “VALN” and the Company’s common shares are listed on the Euronext Regulated Market in Paris (“Euronext”) under the symbol “VLA”.

The offer price per ADS in US dollars and the corresponding offer price per common share in euros and the number of ADSs and common shares to be sold in the Global Offering will be determined following a bookbuilding process beginning immediately. The price per common share (and the corresponding offer price per ADS) shall be at least the weighted average price of the Company’s common shares on Euronext over a period of between three (3) and ninety (90) consecutive trading days prior to the determination of the offer price, as determined by the Board of Directors of the Company, possibly less a maximum deduction of 15%.

The ADSs and/or ordinary shares will be issued by way of a capital increase without preferential subscription rights of the shareholders and in favor of a certain group of people within the meaning of Article L.225-138 of the French Commercial Code.


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