Valneva Priced 21M Share Global Offering of American Depositary Shares @$9.51/ADS

Author: Charles Gross | September 30, 2022 05:14am
Valneva SE (NASDAQ:VALN, PARIS:VLA) announced today the pricing of 21,000,000 ordinary shares in a global offering to specified categories of investors comprised of a public offering of 375,000 American Depositary Shares ("ADSs"), each representing two ordinary shares, in the United States (the "U.S. Offering") and a concurrent private placement of 20,250,000 ordinary shares in certain jurisdictions outside of the United States (the "European Private Placement" and together with the U.S. Offering, the "Global Offering"). As a result of excess demand, the Company upsized the issuance from a previously announced anticipated amount of $40 million. The aggregate gross proceeds are therefore expected to be approximately €102.9 million, equivalent to approximately $99.9 million based on the exchange rate of €1.00 = $0.9706, the exchange rate reported by the European Central Bank on September 29, 2022, before deducting underwriting commissions and estimated expenses payable by the Company. 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 ticker symbol "VALN" and the ordinary shares are listed on the regulated market of Euronext Paris ("Euronext Paris") under the symbol "VLA." Goldman Sachs, Jefferies, Guggenheim Securities and Bryan, Garnier & Co. are acting as joint bookrunners for the Global Offering (together, the "Underwriters").

Posted In: PARIS:VLA VALN