--- title: "Valneva prices €37 million private placement of shares" url: "https://aibio.space/news/valneva-prices-37-million-private-placement-shares-attached-warrants/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-04-30" section: "Financings" tickers: "EURONEXT:VLA" source: "https://www.sec.gov/Archives/edgar/data/1836564/000162828026029000/projectvista6-k.htm" summary: "Valneva agreed on April 29, 2026 to sell 15,893,817 new shares, each with a warrant, for €37 million. The warrants could add about €47 million if every one" --- By the aibio.space news desk. Sources - [Valneva SE 6-K (2026-04-30)](https://www.sec.gov/Archives/edgar/data/1836564/000162828026029000/projectvista6-k.htm) - [Valneva SE 20-F (2026-03-17): business](https://www.sec.gov/Archives/edgar/data/1836564/000162828026018808/valn-20251231.htm) - [Valneva SE financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1836564/000162828026018808/) [VLA](https://aibio.space/companies/valneva/) 2026-04-30 # Valneva prices €37 million private placement of shares with attached warrants Tickers [VLA](https://aibio.space/companies/valneva/) Valneva agreed on April 29, 2026 to sell 15,893,817 new shares, each with a warrant, for €37 million. The warrants could add about €47 million if every one is exercised, at €2.96 each. ## Key facts - **Company**: Valneva SE (EURONEXT: VLA) - **News type**: Financings - **Primary source**: [Valneva SE 6-K (2026-04-30)](https://www.sec.gov/Archives/edgar/data/1836564/000162828026029000/projectvista6-k.htm) *An executive reading charts on a tablet. Photo: Olu Eletu, CC0, via StockSnap. The picture shows the field, not the companies named.* Valneva SE, a vaccine company listed on Euronext Paris as VLA and on the Nasdaq Global Select Market, entered into a securities purchase agreement on April 29, 2026 with investors named in the agreement. The company's Form 6-K, filed on April 30, says it will sell 15,893,817 new ordinary shares in a private placement, and each share carries an attached warrant. Each share-and-warrant unit is priced at €2.33. The company describes the deal as a share capital increase of €37 million, and it expects the placement to close on May 5, 2026. ## The warrants Each warrant lets its holder buy one more ordinary share at €2.96. That price is a 25% premium to the volume-weighted average share price over the three trading days of April 27, 28 and 29, 2026, which the filing puts at €2.37. If every warrant is exercised, up to 15,893,817 more shares would be issued, for an aggregate capital increase of about €47 million. The warrants can be exercised for cash from the business day after issue until the earlier of two dates. The first is 30 calendar days after Valneva receives FDA approval for LB6V, its investigational 6-valent OspA-based Lyme disease vaccine candidate, formerly known as VLA15. The second is the third business day before March 31, 2028. The end date moves to September 30, 2028 if FDA approval has not been obtained by March 1, 2028. A holder may not exercise any part of its warrants if that holder and its affiliates would own more than 9.99% of the ordinary shares. A holder can raise that cap by notice, which takes effect on the 61st day after the notice is delivered. Whether the €47 million ever arrives depends on the share price staying above €2.96 and on holders choosing to pay. The 6-K gives no date for an FDA decision on LB6V. ## Who arranged the deal The 6-K names Jefferies LLC, Jefferies GmbH, TD Securities (USA) LLC, Stifel, Nicolaus & Company, Incorporated and Stifel Europe Securities SAS as global coordinators. Van Lanschot Kempen (USA) Inc. and Van Lanschot Kempen N.V. acted as joint bookrunners and placement agents alongside the global coordinators. Jefferies GmbH acted as settlement agent. Valneva agreed to pay the placement agents customary placement fees, and the 6-K gives no fee amount. It names no counsel for Valneva or for the banks. ## The company's finances Valneva's annual report on Form 20-F for 2025, filed on March 17, 2026, shows a net loss of €115.2 million, against €12.2 million in 2024. Revenue was €174.7 million, against €169.6 million. Research and development expense rose to €85.3 million from €74.1 million. Cash used in operations fell to €52.9 million from €67.2 million. Cash and cash equivalents were €109.7 million at the end of 2025, down from €168.3 million a year earlier. The filings do not explain why the net loss rose sharply while cash used in operations fell. They also do not give a runway for the company's cash. The company also said it voluntarily withdrew the Biologics License Application and the Investigational New Drug application for IXCHIQ, its chikungunya vaccine, in January 2026. The Lyme candidate, VLA15 in the annual report, is a Phase 3 vaccine developed with Pfizer. The annual report describes a field efficacy trial called VALOR, with vaccinations completed in July 2025 and monitoring through the end of 2025. The filings in this story report no results from that trial. ## What the deal shows and leaves out Investors pay €2.33 for a share and a warrant, below the €2.37 reference price. The warrant strike of €2.96 means holders gain from the warrant only if the share price rises above that level. Existing shareholders face the new shares now and up to 15,893,817 more if the warrants are used. The company must file a resale registration statement within 30 days after the closing date. If it misses the filing or effectiveness deadlines, it owes the investors liquidated damages of 1% of the aggregate amount paid per 30-day period, subject to caps. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story VLA Valneva SE EURONEXT · France Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/valneva-prices-37-million-private-placement-shares-attached-warrants/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Valneva prices €37 million private placement of shares", 2026-04-30, https://aibio.space/news/valneva-prices-37-million-private-placement-shares-attached-warrants/