(CercleFinance.com) – Valneva announces that it has filed with the Securities and Exchange Commission (SEC) a supplement to the prospectus relating to an ‘At-the-Market’ equity financing program (ATM program) on the Nasdaq.
Under this program, the vaccine company may issue to eligible investors an aggregate gross amount of up to $75 million in the form of American Depositary Shares (ADS), with each ADS representing two common shares.
Valneva currently intends to use the net proceeds from ADS sales primarily for research and development of vaccine candidates, working capital and general corporate purposes at its discretion.