Valneva (VALN) said Wednesday it has renewed the sales agreement related to its at-the-market offering, which it entered in August 2022, but hasn't used so far.
The company said that under the financing program, it can offer and sell from time to time a total of up to $75 million of American depositary shares, each representing two of its ordinary shares.
Valneva said that Jefferies, as sales agent, will arrange the sale of any ADSs on the company's behalf.
The company plans to use any net proceeds to help fund the manufacturing, commercialization, research and development of its products and candidates, working capital and other general corporate purposes.
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