Inventiva wraps up EIB warrant restructuring with 15.7M new warrants at a €0.01 strike

summarizeSummary

Inventiva issued 15.7 million new EIB warrants at €0.01 each, completing its capital structure overhaul. The new warrants lack anti-dilution protections, capping dilution at ~6.5% if exercised, and replace legacy warrants that were a source of uncertainty.

check_boxKey Events · Financing and Capital Events · IVA

• EIB Warrant Restructuring Completed

  Inventiva issued 15,677,573 new EIB warrants at €0.01 each, exercisable at €0.01 per share, replacing legacy warrants that included anti-dilution protections and a put option.

• Dilution Impact

  If all new warrants are exercised, they would represent approximately 6.5% of current share capital on a non-diluted basis, a known and capped dilution versus the open-ended risk of the legacy warrants.

• Capital Structure Simplification

  The new warrants lack the specific contractual anti-dilution protection mechanism and put option, reducing future dilution uncertainty and simplifying the company's capital structure.

• Legacy Warrant Cancellation

  The remaining 2,444,654 legacy EIB Tranche B warrants were surrendered and cancelled, following the earlier repurchase of 2,266,023 Tranche A and 700,000 Tranche B warrants on June 12, 2026.

auto_awesomeAnalysis · IVA · Life Sciences

The final step of Inventiva's June 2 refinancing is now complete: 15.7 million new EIB warrants have been issued at a nominal exercise price of €0.01 each, replacing legacy warrants that carried anti-dilution protections. If exercised, these warrants would add roughly 6.5% to the share count on a non-diluted basis — a meaningful but capped dilution that removes a larger overhang from the old structure. The cancellation of the remaining legacy warrants and the simplified terms reduce future uncertainty, though the potential dilution remains a headwind for existing shareholders.