Inventiva completes EIB warrant restructuring, issues new warrants to bank

Inventiva announced on July 9, 2026 the completion of the final step in its previously disclosed Combined Transaction with the European Investment Bank. The company issued approximately 15.7 million new warrants to the EIB and surrendered and canceled all remaining legacy EIB Tranche B warrants that had originally been issued in January 2024 and were not repurchased in the earlier transaction.¹

The mechanics: on July 9, 2026, following authorization from shareholders at the Combined General Meeting held on June 30, 2026, Inventiva's CEO approved issuance of 15,677,573 New EIB Warrants under a subscription agreement.¹ The warrants were priced at €0.01 each, with an exercise price of €0.01 per warrant for one ordinary share.¹ If fully exercised, they would represent about 6.5% of the company's current share capital on a non-diluted basis.¹

Unlike the legacy instruments, the new warrants carry no contractual anti-dilution protection or put option.¹ They will not trade on any market or settle through Euroclear, and will be issued in registered form, becoming freely transferable once the exercise period opens.¹ They expire on January 4, 2036 and can be exercised starting August 30, 2026.¹

On the cancellation side, the EIB irrevocably surrendered all remaining Legacy EIB Tranche B Warrants not repurchased earlier, totaling 2,444,654 warrants.¹ This followed the June 12, 2026 repurchase and cancellation of all 2,266,023 Tranche A warrants and 700,000 Tranche B warrants.¹

Inventiva said the new issuance does not change previously disclosed information about its cash resources.¹ The company continues to evaluate lanifibranor, a pan-PPAR agonist, in the Phase 3 NATiV3 trial for MASH.¹