Gide has advised the banking syndicate composed of Goldman Sachs, Jefferies, Guggenheim Securities and Bryan, Garnier & Co. on the capital increase by Valneva reserved to categories of investors, for an estimated total gross amount of €102.9 million, through an offering of American Depositary Shares (ADS), each representing two ordinary shares in the United States and a concurrent private placement in Europe of ordinary shares.
The ordinary shares are listed for trading on Euronext Paris and the ADSs are listed for trading on the Nasdaq Global Select Market.
Valneva is a specialty vaccine company focused on the development and marketing of prophylactic vaccines for infectious diseases with significant unmet medical needs, including Lyme disease, the Chikungunya virus, and Covid-19.
Gide also advised the underwriters on the initial public offering of Valneva on the Nasdaq Global Select Market in May 2021 and on its follow on offering for 102 million dollars in October 2021.
Gide advised the underwriters on French law aspects, with a team headed by partners Arnaud Duhamel and Guilhem Richard, working with associates Mariléna Gryparis and Mélanie Simon-Giblin.
The underwriters were advised by Goodwin Procter (NY office) on US law aspects.
Valneva was represented by Cooley LLP on US law aspects and by Hogan Lovells on French law aspects.