on VALNEVA (EPA:VLA)
Valneva initiates a capital increase of 60 million euros
Saint-Herblain, September 12, 2024 – Valneva SE plans to launch a capital increase of approximately €60 million. The company will issue approximately 22.6 million new shares at a price of €2.66 each.
The funds raised will be used to finance clinical trials of vaccines against chikungunya, shigellosis and Zika virus. They will also support the commercialization of IXCHIQ®, the vaccine against chikungunya.
Valneva is counting on the funding to keep its business afloat until revenues from its Lyme disease program are generated. As of June 2024, the company had $200 million in debt, with repayments scheduled between 2026 and 2028.
The shares will be issued through accelerated bookbuilding. Their admission to the Euronext Paris market is scheduled for September 17, 2024.
R. E.
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