DBV Technologies said it intends to raise $194 million in new stock. It is a major biopharmaceutical giant known for innovative developments in pharmacology and bioengineering. The company intends to raise a stream of funds through private equity investments in publicly traded common stock and common stock purchase warrants.
To this end, the company plans to sell shares at $32.9 per unit. The company has a total of 32.9 million such shares. It also plans to sell pre-funded warrants at $3.11 per unit.
If all customary conditions are met, the transactions will close on June 13, 2022. As of June 9, 80 percent of the stock has sold out at $3.25 and is considered closed.
Recall that the company’s stock was down 4.4 percent last Thursday on the exchange. But in recent days there is a growth in shares by 20%, thereby outperforming many competitors. According to experts, this dynamic is because the day before the company presented the results of clinical trials of therapeutic patches for children.
The patch Viaskin Peanut is used in cases of allergic reactions to peanuts. Biotechnologists claimed that the product showed 67% efficiency against allergies in children aged 1 to 3 years. It was this fact that influenced the growth of the company’s shares on the stock exchange.