Valneva SE’s $107.6 Million Global Offering

Goodwin Procter advised Goldman Sachs & Co. LLC and the other underwriters on the deal. Hogan Lovells advised Valneva. Gide advised Goldman Sachs, Jefferies, Guggenheim Securities and Bryan, Garnier & Co.

Valneva SE, a specialty vaccine company focused on the development and commercialization of prophylactic vaccines for infectious diseases with significant unmet medical need, announced the pricing of its initial public offering on the Nasdaq Global Select Market by way of a capital increase of 7,082,762 new ordinary shares, consisting of a public offering of 2,318,881 American Depositary Shares (“ADSs”), each representing two ordinary shares  (the “U.S. Offering”), and a concurrent private placement of 2,445,000 ordinary shares in Europe (including in France) and other countries outside of the United States (the “European Private Placement”, and, together with the U.S. Offering, the “Global Offering”). The aggregate gross proceeds are expected to be approximately $93.5 million, equivalent to approximately €77.9 million, before deducting underwriting commissions and estimated expenses payable by the Company.

Goldman Sachs, Jefferies, Guggenheim Securities and Bryan, Garnier & Co. are acting as joint bookrunners for the Global Offering (together, the “Underwriters”). Namsen Capital is acting as Valneva’s capital markets advisor.

The Goodwin team consisted of Seo Salimi (Picture), Rob Puopolo, Edwin O’Connor, Will Magioncalda, Tom Schaad, and Amy Dau (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).

The Hogan Lovells team was led by Jean-Marc Franceschi (partner) and included Arnaud Deparday (Counsel), Madalina Asandului and Claudia Reix (associates).

The Gide team included Arnaud Duhamel (partner), Guilhem Richard (counsel), Mariléna Gryparis, Mélanie Simon (associates), Alexandre Bochu (counsel).

Involved fees earner: Alexandre Bochu – Gide Loyrette Nouel; Arnaud Duhamel – Gide Loyrette Nouel; Marie-Hélène Gryparis – Gide Loyrette Nouel; Guilhem Richard – Gide Loyrette Nouel; Mélanie Simon – Gide Loyrette Nouel; Roger Cohen – Goodwin Procter; Amy Dau – Goodwin Procter; Andrew Hess – Goodwin Procter; Heath Ingram – Goodwin Procter; Daniel Karelitz – Goodwin Procter; William Magioncalda – Goodwin Procter; Elizabeth Mulkey – Goodwin Procter; Edwin O’Connor – Goodwin Procter; Leon Peschel – Goodwin Procter; Robert Puopolo – Goodwin Procter; Seo Salimi – Goodwin Procter; Ettore Santucci – Goodwin Procter; Tom Schaad – Goodwin Procter; Julie Tibbets – Goodwin Procter; Olivia Uitto – Goodwin Procter; Madalina-Georgiana Asandului – Hogan Lovells; Arnaud Deparday – Hogan Lovells; Jean-Marc Franceschi – Hogan Lovells; Claudia Reix – Hogan Lovells;

Law Firms: Gide Loyrette Nouel; Goodwin Procter; Hogan Lovells;

Clients: Bryan, Garnier & Co; Goldman Sachs & Co.; Guggenheim Securities; Jefferies; Valneva;

Author: Martina Bellini