DBV Technologies Establishes $150mln ATM Program on Nasdaq

• DBV Technologies establishes ATM program on Nasdaq • Program allows sale of up to $150m of ADS • Each ADS represents five ordinary shares • Program enables sale of ADS to unsolicited investors • DBV Technologies is a clinical-stage biopharmaceutical company • Filed prospectus supplement with SEC • Company may offer ADS to investors at market prices

DBV Technologies, a clinical-stage biopharmaceutical company, has announced the establishment of an At-The-Market (ATM) program on Nasdaq. The program, which was filed with the U.S. Securities and Exchange Commission (SEC), allows the company to sell up to $150 million in American Depositary Shares (ADS). Each ADS represents five ordinary shares of the company.

The ATM program enables DBV Technologies to sell ADS to unsolicited investors. The sales will be conducted through a sales agreement with Citizens JMP Securities, LLC, acting as the sales agent. The company may use the net proceeds from the sales, along with its existing cash and cash equivalents, primarily for activities associated with the Biologics License Application (BLA) for VIASKIN® Peanut patch in toddlers aged 1-3 years old, as well as for advancing the development of its product candidates using its proprietary technology platform, VIASKIN, and for working capital and other general corporate purposes.

The ATM program is intended to be effective unless terminated in accordance with the sales agreement or if ADSs representing the maximum gross amount have been sold. The terms and conditions of the ATM program remain similar to the company's prior ATM program. Sales prices may vary based on market prices and other factors. Only eligible investors, as defined by the company's 25th resolution adopted at the 2025 Annual General Meeting, may purchase ADSs under the ATM program.

The new ordinary shares to be sold in the form of ADSs will be admitted to trading on the regulated market of Euronext in Paris, and the issued ADSs will trade on the Nasdaq Capital Market. On an illustrative basis, assuming the issuance of the full amount of $150 million in ADSs at an assumed offering price of $9.18, a holder of 1.0% of the outstanding Company's share capital as of the date of this press release would hold 0.63% of the outstanding Company's share capital after the completion of the transaction.

DBV Technologies has terminated the sales agreement dated as of May 2, 2022, relating to the prior ATM program. The company will provide updates on its use of the ATM program during the preceding quarter and will also provide an update after each capital increase on a dedicated location on its corporate website.

A shelf registration statement on Form S-3 (including a prospectus) relating to the company's securities, including the ADSs, was filed with the SEC and has been declared effective. Prospective investors should read the prospectus supplement and the accompanying prospectus before purchasing ADSs in the offering. These documents are available for free on the SEC's website at www.sec.gov or from Citizens JMP Securities, LLC.

References:
[1] https://www.morningstar.com/news/globe-newswire/1001126444/dbv-technologies-establishes-an-at-the-market-atm-program-on-nasdaq