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DBV Technologies raises $172.5M in global offering


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DBV Technologies raises $172.5M in global offering

DBV Technologies SA raised about $172.5 million in gross proceeds from a global offering after the underwriters exercised their option to buy additional shares.

As part of the underwriters' option, the French biotechnology company issued 529,162 ordinary shares, including 208,802 ordinary shares in the form of 417,604 American depositary shares.

Each ADS represents the right to receive 0.5 ordinary share. The ADSs were issued at $21.26 apiece in the U.S., Canada and certain non-European countries, while the ordinary shares were sold in in Europe for €34.71 apiece.

DBV's ordinary shares are listed on Euronext Paris under the symbol DBV, while the ADSs are listed on the Nasdaq Global Select Market under the symbol DBVT.

The company plans to use the proceeds to fund the development and commercialization of its allergy treatment Viaskin Peanut, to advance the development of other product candidates and for working capital and general corporate purposes.

Morgan Stanley and Goldman Sachs acted as joint lead book-running managers, while Barclays and Deutsche Bank Securities also served as book-running managers for the offering. Bryan Garnier & Co. acted as a co-manager for the offering.