Press Release 11 May 2021

Capital Markets Team Advises Underwriters of Valneva’s $107.6 Million Global Offering

The Life Sciences IPOs + Capital Markets team advised Goldman Sachs & Co. LLC and the other underwriters on Valneva SE’s (Euronext Paris: VLA, Nasdaq: VALN) closing of an approximately $107.6 million global offering, which included its initial public offering on Nasdaq. The global offering consisted of (i) an initial public offering of 5,700,176 ordinary shares in the form of 2,850,088 American Depositary Shares (“ADSs”) in the United States, at an offering price of $26.41 per ADS, including full exercise of the Underwriters’ over-allotment option, and (ii) a concurrent private placement of 2,445,000 ordinary shares in Europe (including in France) and other countries outside of the United States, at a price of €11 per ordinary share. The aggregate gross proceeds are expected to be approximately $107.6 million, equivalent to approximately €89.6 million, before deducting underwriting commissions and estimated expenses payable by the Company.

Valneva is a specialty vaccine company focused on the development and commercialization of prophylactic vaccines for infectious diseases with significant unmet medical need, including candidates against Lyme disease, the chikungunya virus, and COVID-19.

The Goodwin team consisted of Seo Salimi, Rob Puopolo, Edwin O’Connor, Will Magioncalda and Tom Schaad (Corporate), Olivia Uitto (IP), Julie Tibbets and Elizabeth Mulkey (Regulatory), Roger Cohen, Heath Roosevelt Ingram, and Andrew Hess (Healthcare), Dan Karelitz and Leon Peschel (Tax), and Ettore Santucci (Opinions).

For more details, read the press release.