Press Release November 12, 2019

Goodwin Advises Goldman Sachs & Co. LLC in DBV Technologies $143 Million Global Offering

The Life Sciences team advised Goldman Sachs & Co. LLC as a representative of several underwriters on the DBV Technologies global offering of an aggregate of 9,484,066 ordinary shares reserved to specified categories of investors in (i) an offering of 7,914,622 ordinary shares in the form of 15,829,244 American Depositary Shares (ADSs) in the United States, Canada and certain other countries outside Europe, at an offering price of $6.59 per ADS (on the basis of an exchange rate of $1.0945 = €1.00), and (ii) a private placement of 1,569,444 ordinary shares in Europe (including France), at a public offering price of €12.04 per ordinary share. DBV Technologies also delivered 1,368,667 additional ordinary shares in the form of 2,737,334 ADSs, at an offering price of $6.59 per ADS, after full exercise of the underwriters’ option to purchase additional ordinary shares in the form of ADSs.

DBV Technologies is a clinical-stage biopharmaceutical company dedicated to safely transforming the care of food allergic patients. The company is developing Viaskin®, an investigational proprietary technology platform with broad potential applications in immunotherapy.

The total gross proceeds from the global offering, after exercise of the option, were approximately $143.0 million (approximately €130.7 million), before deducting commissions and estimated offering expenses. Each ADS represents the right to receive one-half of one ordinary share. The ADSs are listed on the Nasdaq Global Select Market under the symbol “DBVT,” and the company’s ordinary shares are listed on Euronext Paris under the symbol “DBV.”

The Goodwin team was led by Edwin O’Connor, Seo Salimi, Will Magioncalda, Nicholas Reist and Tom Schaad (Corporate), and included Brian Fairchild and Olivia Uitto (IP), Stephanie Philbin and Steven Tjoe (Regulatory), Janet Andolina and Alexander Plaum (Tax) and Ettore Santucci (Opinions).

For more information, read the press release