Date: 2013-11-14
Type of information: Private placement
Company: DBV Technologies (France)
Investors:
Amount: €29,9 million
Funding type: private placement
Planned used: The issuance of new shares is intended to provide additional funding to DBV Technologies to finance its development strategy, particularly, by priority order, to initiate Phase III clinical studies on Viaskin® Peanut, following the Phase IIb \"VIPES” studies underway in Europe and the United States, for which results are expected in the second half of 2014. The funds will also be used to accelerate the development of the Viaskin® platform in indications beyond the field of allergies and to increase the visibility of DBV Technologies in the United States, with respect to both the financial and scientific communities.
Others: * On November 14, 2013, DBV Technologies has announced the completion of a private placement of new and secondary shares that resulted in gross proceeds for the Company of around €29,9m. The Private Placement was conducted in accordance with Article L.411?2 II of the French Monetary and Financial Code (Code monétaire et financier). The shares offered under the Private Placement amounted to a total of 2,958,817 shares, split as follows: 1,680,151 new shares issued by means of a capital increase without shareholders’ preemptive rights which represents around 12.5% of the outstanding shares prior to the Private Placement;
1,278,666 existing shares stemming from the disposal of shares held by the following shareholders: Lundbeckfond, ALK Abello, Apax Partners, Altamir and Innobio and representing a total of around 8.5% of the total number of shares outstanding following the issuance of the new shares.
Following an accelerated bookbuilding process, the price of the placement has been set at €10.11 per share. This price represents a 5% discount to the volume weighted average price of the last 3 trading days preceding the pricing, i.e. €10.6405. The net proceeds to the Company are estimated to be around €15.5m.
The new shares, with a par value of €0.10, will be of the same category as the existing shares of the Company. They will carry rights to all dividends to be distributed by the Company as from their issuance. Application will be made to list the new shares on Euronext Paris.
Therapeutic area: Allergic diseases - Immunological diseases
