Valneva Announces Launch of Proposed Global Offering, Start of the Roadshow and Nasdaq Listing - Seite 2

The European Private Placement will be open only to qualified investors as such term is defined in article 2(e) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017.

The closings of the U.S. offering and the European private placement will occur simultaneously, will be conditioned on each other and are expected to occur on the third trading day after the final pricing and allocation of the Global Offering. The underwriting agreement to be entered into among the Company and the Underwriters will not constitute a performance guarantee (garantie de bonne fin) within the meaning of the Article L225-145 of the French Commercial Code.

The Company expects to use the net proceeds from the Global Offering, together with its existing cash and cash equivalents, as follows (assuming an exchange rate of €1.00 = $1.2088, the exchange rate on April 27, 2021, as reported by the European Central Bank):

• Approximately $100 million to fund further development of its Lyme VLA15 vaccine candidate through completion of Phase 2 clinical trials;
• Approximately $120 million to fund further development of its chikungunya VLA1553 vaccine candidate through BLA approval;
• Approximately $80 million to fund further development of its COVID-19 VLA2001 vaccine candidate through conditional licensure; and
• The remainder, if any, for working capital and general corporate purposes.
  

A registration statement on Form F-1 relating to the securities referred to herein has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

The securities referred to in this press release will be offered in the United States only by means of a prospectus (as part of a registration statement on Form F-1). Copies of the preliminary prospectus relating to and describing the terms of the Global Offering, when available, will be available on the Securities and Exchange Commission’s website at www.sec.gov.   

Application will be made to list the new ordinary shares to be issued pursuant to the Global Offering on Euronext.

About Valneva SE
Valneva is a specialty vaccine company focused on the development and commercialization of prophylactic vaccines for infectious diseases with significant unmet medical need. The Company has leveraged its expertise and capabilities both to successfully commercialize two vaccines and to rapidly advance a broad range of vaccine candidates into and through the clinic, including candidates against Lyme disease, the chikungunya virus and COVID-19.