French biopharmaceutical company Inventiva SA on Thursday revealed it has expanded its U.S. share sale to approximately $150 million, as the clinical-stage firm detailed its plans to use the capital to advance liver disease therapies and support general corporate operations.
Originally, Inventiva announced Wednesday it intended to sell $125 million worth of new American depositary shares (ADSs) in an underwritten public offering. The final offering amount and share numbers were undecided at that time.
Offering Details: Nearly 39 Million ADSs at $3.85 Each
On Thursday, Inventiva confirmed the sale would involve approximately 38.96 million ADSs, priced at $3.85 per share, valuing the offering at roughly $150 million. The shares, listed on the Nasdaq Global Market, are being sold exclusively in the U.S.
The share sale, which began Wednesday, is expected to close on Nov. 17. Leerink Partners LLC and Piper Sandler are serving as underwriters for the offering.
Inventiva expects net proceeds of around $140.1 million, though the total could rise if underwriters exercise their option to purchase up to six million additional ADSs.
