Valneva renews sales agreement in connection with existing at-the-market program

Valneva (VALN) SE announces that it has filed a prospectus supplement as part of the renewal of its registration statement on Form F-3, filed on March 25 with the U.S. Securities and Exchange Commission relating to its existing At-the-Market offering facility, which was originally entered into in August 2022 and has not been utilized to-date. “Pursuant to this financing program, the company has the option to offer and sell, including with unsolicited investors who have expressed an interest, a total gross amount of up to $75.0M of American Depositary Shares, each ADS representing two of the company’s ordinary shares, from time to time in sales deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, and pursuant to the terms of an Amended and Restated Open Market Sale Agreement with Jefferies, acting as sales agent, subject to French regulatory limits and within the limits of the investors’ requests expressed in the context of the ATM Program. The timing of any potential future sales will depend on a variety of factors and the company is not under any obligation to utilize the ATM Program in a specified amount or at all. The terms and conditions of the new ATM Program remain similar to the prior ATM program set up in August 2022. The Sales Agreement will terminate when the maximum program amount is reached or it is terminated early in accordance with its terms,” Valneva stated.