Valneva prepares for Potential US IPO

2 December 2020

Valneva SE (“Valneva” or “the Company”), a specialty vaccine company, today announced that it will convene an Extraordinary General Meeting (EGM) to be held on December 22, 2020.

From November 16, 2020, the preparatory documents and information for the Extraordinary General Meeting will be available and posted on the Company’s website, in accordance with applicable French laws and regulations.

Valneva is calling the EGM in order to obtain the necessary authorizations to allow the Company to prepare for a potential listing and public offering of American Depositary Shares (each representing a number of the Company’s ordinary shares) on Nasdaq in 2021 (the “Offering”), subject to market and other conditions, consistent with the Company’s previously communicated strategic plans.   The timing, number of securities to be offered and their price have not yet been determined. The Company plans to submit a confidential draft registration statement to the Securities and Exchange Commission (the “SEC”) in early 2021, and the proposed Offering is expected to commence after the SEC completes its review processes, subject to market and other conditions. Shareholders and potential investors should note that the proposed Offering may or may not proceed.

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