Innate Pharma announces EUR 15M capital increase from Sanofi

Innate Pharma (IPHA) announced a EUR 15M capital increase subscribed by Sanofi (SNY). As announced on April 23 and given the satisfactory market conditions, Sanofi has agreed to subscribe to 8,345,387 new ordinary shares of Innate, at a price of EUR 1.7974 per share, representing a total capital increase of EUR 15M. The subscription price of EUR 1.7974 per share is equal to the daily volume-weighted average price of the ordinary shares of Innate on the regulated market of Euronext in Paris on April 23. Closing of the capital increase is expected to take place on April 25. The newly issued shares will be admitted to trading on the regulated market of Euronext in Paris on the same day.