Date: 2017-02-14
Type of information: IPO
Company: Inventiva (France)
Investors:
Amount: € 48 million
Funding type: IPO
Planned used: The IPO aims to provide Inventiva with additional financing to fund its activities and pursue the development of its technological platforms and drug candidates. In addition to its cash position of approximately €24.8 million as of December 31, 2016, Inventiva intends to use over 80% of the estimated net proceeds of the offering, until the end of the first half year of 2019, to pursue the clinical development of IVA337 program for the treatment of NASH and systemic sclerosis until the end of the clinical studies of phase IIb, and to pursue the clinical development of IVA336 in mucopolysaccharidosis. The balance will be used to pursue the development of the Company’s preclinical portfolio, particularly the Yap-Tead program. The capital raised will be used by the Company to finance its activities until mid-2019.
Others: * On February 14, 2017, Inventiva announced its successful initial public offering on Compartment C of Euronext Paris. The initial public offering by way of an Open Price Offering and a Global Placement, enables the Company to raise €48 million by means of a capital increase (after partial exercise of the Increase Option of 6.7. This amount can be increased to €50.4 million if the Over-allotment Option is exercised in full. The IPO has been backed up by a large number of new shareholder based in the United States and in Europe, both individual investors and major funds specialized in life sciences. The Global Placement, mainly intended for institutional investors, accounted for €44.1 million, ie. 91.8% of the total number of shares allocated, while the OPO, mainly aimed at individual investors, accounted for €3.9 million, ie. 8.2% of the total of shares allocated (without the Over-allotment Option). The subscription commitments as mentioned in the Securities Note (Note d’Opération) have been fulfilled. The final offer price for the Global Placement and the OPO is set at €8.50 per share, corresponding to the low-range price of the Offering. Based on the IPO price of €8.50 per share, Inventiva’s market capitalization will amount to approximately €133.3 million upon completion of the offering. The Increase Option, which represents 357,122 shares (ie. 6.7%), has been exercised,. The number of new shares may be increased, where appropriate, by up to 282,562 additional new shares should the Overallotment Option granted to the Joint-Lead Managers and Joint-Bookrunners in connection with the Offering be exercised until March 16, 2017.
Therapeutic area: Fibrotic diseases - Hepatic diseases - Liver diseases
