Inventiva Enters Comprehensive Refinancing Agreements, Comprising Repayment Of The Existing EIB Loan And Partial Warrant Buyback Of Those Issued The EIB; Shares Resume Rrading On Euronext Paris
Inventiva SA ADR
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- Secured a new debt financing with funds and accounts managed by BlackRock and Claret Capital Partners, respectively for up to €130 million in committed tranches, subject to conditions, plus an additional uncommitted tranche of up to €20 million, to replace its existing EIB loan ahead of maturity and extend its debt maturity profile to 2030
- Simplifying its capital structure with agreement to repurchase existing warrants issued in favor of the EIB, thereby eliminating 60% of the dilution protected EIB warrants (exercisable into 22.7 million shares), at a 40% discount to intrinsic value, and restructuring the remaining EIB warrants on terms that do not contain dilution protection
- Priced an underwritten offering of $ 120 million American Depositary Shares only in the United States and listed on the Nasdaq Global Market, from both new and existing investors
- Extending cash runway into early first quarter 2028, assuming the completion of the Equity Offering, the EIB transactions, the full exercise of all warrants in the optional tranche 3 of the October 2024 structured financing1, and the Debt Financing2
- Reiterated anticipated top-line Phase 3 readout in Q4 2026 followed by potential regulatory filing in H1 2027
- Trading of the ordinary shares of the Company was halted, at the Company's request, on June 2, 2026 from 9:00 a.m. CEST, in the context of the previously announced Debt Financing Transaction and Offering of American Depositary Shares in the United States (each representing one new ordinary share of the Company with a nominal value of €0.01).