DBVTF - DBV Technologies stock dips amid plans to raise $194M via equity financing
DBV Technologies (NASDAQ:DBVT) is planning to raise $194M in gross proceeds via a private investment in public equity (PIPE) financing. The company intends to sell ~32.86M ordinary shares, and pre-funded warrants to buy up to ~28.28M shares. The company said the ordinary shares will be sold at €3/share (corresponding to $3.22), and the pre-funded at €2.90 apiece (corresponding to $3.11), which equals the per share price for the ordinary shares less the remaining €0.10 exercise price for each such pre-funded warrant. Braidwell, funds advised by Baker Bros. Advisors and BpiFrance Participations, each a current shareholder of the company, and Venrock Healthcare Capital Partners, have subscribed respectively, $11M, $38M, $8M and $30M worth shares. Braidwell, Baker Bros. Advisors and Venrock Healthcare Capital Partners have subscribed respectively, $19M, $41M, $28M worth of pre-funded warrants. Other investors include Fairmount, RA Capital Management and Vivo Capital. The PIPE financing is expected to close on June 13,
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DBV Technologies stock dips amid plans to raise $194M via equity financing