Daix (France), New York City (New York, United States), July 9, 2026 – Inventiva (Euronext Paris and NASDAQ: IVA) ("Inventiva" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of an oral therapy for the treatment of metabolic dysfunction-associated steatohepatitis ("MASH"), is pleased to announce the completion of the final step of the transactions previously announced on June 2, 2026 (the "Combined Transaction") through the issuance of approximately 15.7 million new warrants (bons de souscription d'actions) (the "New EIB Warrants") to the European Investment Bank (the "EIB") and the surrender and cancellation of all remaining warrants originally issued to the EIB in January 2024 (the "Legacy EIB Tranche B Warrants") that were not repurchased in the Combined Transaction.
Andrew Obenshain, CEO of Inventiva, commented: " The completion of this EIB warrant restructuring is an important step in strengthening Inventiva's capital structure and improving alignment with our shareholders. By replacing the remaining legacy EIB warrants with a simplified warrant instrument that no longer includes specific contractual anti-dilution protection mechanisms, we have eliminated a potential source of future uncertainty and dilution. This achievement, together with the previously announced broader refinancing, provides Inventiva with increased financial flexibility as we continue advancing the development of lanifibranor, our investigational pan-PPAR agonist for the treatment of MASH."
The issuance of the New EIB Warrants forms part of the comprehensive refinancing transaction previously announced by the Company and marks the completion of the EIB warrant restructuring, a key step in the Company's broader refinancing and capital structure optimization efforts. It follows the previously announced repayment in full of the EIB loans and the repurchase and cancellation of all warrants issued to the EIB in November 2022 (the "Legacy EIB Tranche A Warrants", and, together with the Legacy EIB Tranche B Warrant, the "Legacy EIB Warrants") and a portion of the Legacy EIB Tranche B Warrants. The New EIB Warrants have been issued to replace the Legacy EIB Tranche B Warrants that were not repurchased in the Combined Transaction and have now been surrendered for cancellation.
Issuance of the New EIB Warrants
On July 9, 2026, pursuant to the previously announced master agreement entered into with the EIB on June 1, 2026 and following the authorization granted by the shareholders of the Company at the Combined General Meeting held on June 30, 2026, the Chief Executive Officer of the Company approved the issuance of 15,677,573 New EIB Warrants to the EIB and the execution of a subscription agreement with the EIB governing such issuance.