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DBV Technologies SA Completes EUR 29.9 Million Private Placement


Thursday, 14 Nov 2013 03:14am EST 

DBV Technologies SA announced the completion of a private placement of new and secondary shares that resulted in gross proceeds for the Company of around EUR 29.9 million. The shares offered under the Private Placement amounted to a total of 2,958,817 shares, split as follows: 1,680,151 new shares issued by means of a capital increase without shareholders' preemptive rights which represents around 12.5% of the outstanding shares prior to the Private Placement; 1,278,666 existing shares stemming from the disposal of shares held by the following shareholders: Lundbeckfond, ALK Abello, Apax Partners, Altamir and Innobio (together the "Selling Shareholders") and representing a total of around 8.5% of the total number of shares outstanding following the issuance of the new shares. Following an accelerated bookbuilding process, the price of the placement has been set at EUR 10.11 per share. This price represents a 5% discount to the volume weighted average price of the last 3 trading days preceding the pricing, i.e. EUR 10.6405. The net proceeds to the Company are estimated to be around EUR 15.5 million. The Private Placement was conducted by Societe Generale Corporate & Investment Banking as Lead Manager and Joint Bookrunner, Kempen & Co as Joint Bookrunner (together the "Joint Bookrunners"), and Trout Capital as United States Placement Agent. The majority of shares were placed with investors in the United States.