VALN - Valneva rallies on exercise of underwriters' option to purchase additional ADSs

Valneva (NASDAQ:VALN) announced that the underwriters of its global offering of 4.5M shares consisting of a private placement of 4.47M shares in Europe and other countries outside of U.S. It also launched a concurrent public offering of 16.56 ADSs, each representing two ordinary shares; have exercised in full their option to purchase up to 675K additional new ordinary shares in the form of 337.5K ADSs. The additional ADSs will be delivered concurrently with the closing of the global offering on or about Nov. 2. Thereby, total shares issued in the offering stood at 5.18M shares including 708,120 ordinary shares represented by 354,060 ADSs each representing two ordinary shares, bringing the global offering gross proceeds to ~$102M. VALN shares trading 10.6% higher premarket.

For further details see:

Valneva rallies on exercise of underwriters' option to purchase additional ADSs