DBV Technologies S.A. | CIK:0001613780 | 3

  • Filed: 3/16/2018
  • Entity registrant name: DBV Technologies S.A. (CIK: 0001613780)
  • Generator: Donnelley Financial Solutions
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1613780/000119312518085953/0001193125-18-085953-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1613780/000119312518085953/dbvt-20171231.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0001613780
  • Open this page in separate window: Click

    • ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory

    Note 10: Capital

    10.1 Share Capital Issued

    The share capital, as of December 31, 2017, is set at the sum of €2,499,082.20. It is divided into 24,990,822 fully authorized, subscribed and paid-up shares with a nominal value of €0.10.

    This number does not include share warrants (“BSA”), employee warrants (“BSPCE”), stock-options (“SO”) and performance shares (“AGA”) granted to certain investors and to certain natural persons, both employees and non-employees of the Company.

    All the shares give their owners the right to a proportional share of the income and the net assets of the Company.

    The table below presents the historical changes in the share capital of the Company as of December 31, 2015, 2016 and 2017:

     

    Date

    		   

    Nature of the Transactions

    		    Share
    Capital    		     Share premium     Number of
    Shares    		     Nominal
    value    		  
      

    Balance as of January 1, 2015

    		    K€ 1,916.1     K€ 163,876.8       19,160,661     € 0.10  
    01/06/2015   

    Capital increase by issuance of common shares

    		    K€ 0.4     K€ 18.9       3,750     € 0.10  
    01/07/2015   

    Capital increase by issuance of common shares

    		    K€ 1.0     K€ 59.0       10,000     € 0.10  
    01/22/2015   

    Capital increase by incorporation of reserve

    		    K€ 3.5     K€ (3.5 )      35,360     € 0.10  
    01/30/2015   

    Capital increase by issuance of common shares

    		    K€ 9.8     K€ 476.8       97,720     € 0.10  
    02/03/2015   

    Capital increase by issuance of common shares

    		    K€ 0.8     K€ 37.7       7,500     € 0.10  
    02/13/2015   

    Capital increase by issuance of common shares

    		    K€ 3.8     K€ 188.6       37,500     € 0.10  
    02/17/2015   

    Capital increase by issuance of common shares

    		    K€ 2.0     K€ 100.6       19,995     € 0.10  
    03/04/2015   

    Capital increase by issuance of common shares

    		    K€ 1.0     K€ 59       10,000     € 0.10  
    03/26/2015   

    Capital increase by issuance of common shares

    		    K€ 5.0     K€ 400       50,000     € 0.10  
    04/07/2015   

    Capital increase by issuance of common shares

    		    K€ 4.0     K€ 169.2       40,005     € 0.10  
    04/09/2015   

    Capital increase by issuance of common shares

    		    K€ 15.0     K€ 692.1       150,375     € 0.10  
    04/28/2015   

    Capital increase by issuance of common shares

    		    K€ 1.4     K€ 77.1       14,290     € 0.10  
    05/05/2015   

    Issue of share subscription warrants

    		    K€          K€ 43      
    05/11/2015   

    Capital increase by issuance of common shares

    		    K€ 2.0     K€ 100.7       20,010     € 0.10  
    06/23/2015   

    Capital increase by issuance of common shares

    		    K€ 59.1     K€ 27,029.4       590,543     € 0.10  
    06/23/2015   

    Capital Decrease

    		    K€ (58.6 )    K€  (26,823.4 )      (586,048 )    € 0.10  
    07/20/2015   

    Capital increase by issuance of common shares

    		    K€ 414.0     K€ 254,932.9       4,140,000     € 0.10  
    07/24/2015   

    Capital increase by issuance of common shares

    		    K€ 1.6     K€ 79.2       15,750     € 0.10  
    07/25/2015   

    Capital increase by incorporation of reserve

    		    K€ 28.6     K€ (28.6 )      286,338     € 0.10  
    07/28/2015   

    Capital increase by issuance of common shares

    		    K€ 1.7     K€ 91.5       17,000     € 0.10  
    09/18/2015   

    Capital increase by issuance of common shares

    		    K€ 0.3     K€ 46.7       2,500     € 0.10  
    10/07/2015   

    Capital increase by issuance of common shares

    		    K€ 4.8     K€ 241.2       47,955     € 0.10  
    12/10/2015   

    Capital increase by issuance of common shares

    		    K€ 1.8     K€ 146.9       17,500     € 0.10  
    12/10/2015   

    Issue of share subscription warrants

    		    K€          K€ 99.2      
    12/14/2015   

    Capital increase by issuance of common shares

    		    K€ 1.6     K€ 69.5       16,425     € 0.10  
    12/31/2015   

    Fees charged to share premium

    		    K€     K€  (18,269.7 )     
         

     

     

    		    

     

     

    		    

     

     

    		    

     

     

    		  
      

    Balance as of December 31, 2015

    		    K€ 2,420.5     K€ 403,910.4       24,205,129     € 0.10  

    Date

    		   

    Nature of the Transactions

    		    Share
    Capital    		     Share premium     Number of
    Shares    		     Nominal
    value    		  
      

    Balance as of January 1, 2016

    		    K€ 2,420.5     K€ 403,910.4       24,205,129     € 0.10  
    01/05/16   

    Capital increase by issuance of common shares

    		    K€ 0.6     K€ 32.7       6,495    
    02/16/16   

    Issue of share subscription warrants

    		    K€     K€ 471.1       € 0.10  
    04/06/16   

    Capital increase by incorporation of reserve

    		    K€ 10.2     K€ (10.2 )      101,829     € 0.10  
    05/27/16   

    Capital increase by issuance of common shares

    		    K€ 0.2     K€ 7.5       1,500     € 0.10  
    06/03/16   

    Capital increase by issuance of common shares

    		    K€ 15.6     K€ (15.6 )      156,000     € 0.10  
    06/06/16   

    Capital increase by issuance of common shares

    		    K€ 6.0     K€ 301.2       59,890     € 0.10  
    06/10/16   

    Capital increase by issuance of common shares

    		    K€ 3.5     K€ 176.0       34,985     € 0.10  
    07/18/16   

    Capital increase by issuance of common shares

    		    K€ 2.0     K€ 100.7       20,010     € 0.10  
    08/21/16   

    Issue of share subscription warrants

    		    K€     K€ 106       €  
    08/04/16   

    Capital increase by issuance of common shares

    		    K€ 1.0      K€ 50.4       10,020      € 0.10  
    08/24/16   

    Capital increase by issuance of common shares

    		    K€ 0.7      K€ 37.1       7,380      € 0.10  
    08/30/16   

    Capital increase by issuance of common shares

    		    K€ 0.4      K€ 66.2       3,500      € 0.10  
    08/31/16   

    Capital increase by issuance of common shares

    		    K€ 0.4      K€ 66.2       3,500      € 0.10  
    09/01/16   

    Capital increase by issuance of common shares

    		    K€ 0.4      K€ 66.2       3,500      € 0.10  
    09/02/16   

    Capital increase by issuance of common shares

    		    K€ 0.4      K€ 66.2       3,500      € 0.10  
    09/05/16   

    Capital increase by issuance of common shares

    		    K€ 0.4      K€ 66.2       3,500      € 0.10  
    09/06/16   

    Capital increase by issuance of common shares

    		    K€ 0.4      K€ 66.2       3,500      € 0.10  
    09/06/16   

    Capital increase by issuance of common shares

    		    K€ 0.4      K€ 66.2       3,500      € 0.10  
    09/08/16   

    Capital increase by issuance of common shares

    		    K€ 0.4      K€ 66.2       3,500      € 0.10  
    09/09/16   

    Capital increase by issuance of common shares

    		    K€ 0.4      K€ 66.2       3,500      € 0.10  
    09/12/16   

    Capital increase by issuance of common shares

    		    K€ 0.4      K€ 66.2       3,500      € 0.10  
    09/12/16   

    Capital increase by issuance of common shares

    		    K€ 0.5      K€ 23.1       4,590      € 0.10  
    11/25/16   

    Capital increase by issuance of common shares

    		    K€ 0.6      K€ 30.2       6,000      € 0.10  
         

     

     

    		     

     

     

    		    

     

     

    		     

     

     

    		  
      

    Balance as of December 31, 2016

    		    K€ 2,464.9      K€ 405,882.5       24,648,828      € 0.10  

    Date

    		   

    Nature of the Transactions

    		    Share Capital      Share premium     Number of
    Shares    		      Nominal
    value    		  
      

    Balance as of January 1, 2017

    		    K€ 2,464.9      K€ 405,882.5       24,648,828      € 0.10  
    02/03/17   

    Capital increase by issuance of common shares

    		    K€ 2.0      K€ 100.7       20,010      € 0.10  
    02/09/17   

    Issue of share subscription warrants

    		    K€      K€ 237.4        €  
    05/16/17   

    Capital increase by issuance of common shares

    		    K€ 4.0      K€ 170.7       40,365      € 0.10  
    07/12/17   

    Capital increase by issuance of common shares

    		    K€ 0.2      K€ 8.3       1,650      € 0.10  
    08/04/17   

    Capital increase by issuance of common shares

    		    K€ 0.1      K€ 64.6       1,200      € 0.10  
    09/14/17   

    Capital increase by issuance of common shares

    		    K€ 3.6      K€ 208.2       35,925      € 0.10  
    09/14/17   

    Issue of share subscription warrants

    		    K€      K€ 53.1        €  
    09/29/17   

    Capital increase by issuance of common shares

    		    K€ 0.1      K€ 4.0       500      € 0.10  
    09/30/17   

    Capital increase by incorporation of reserve

    		    K€ 23.1      K€ (23.1 )      230,843      € 0.10  
    10/02/17   

    Capital increase by issuance of common shares

    		    K€ 0.1      K€ 4.0       500      € 0.10  
    12/15/17   

    Capital increase by incorporation of reserve

    		    K€ 1.1      K€ (1.1 )      11,001      € 0.10  
         

     

     

    		     

     

     

    		    

     

     

    		     

     

     

    		  
      

    Balance as of December 31, 2017

    		    K€ 2,499.1      K€ 406,709.3       24,990,822      € 0.10  

    No fees and banks commissions related to share capital increases in 2016 were posted in deduction of the share premium. In 2015, the fees and banks commissions related to share capital increases were €18.3 million.

    On July 20, 2015, the Company announced the closing of its underwritten public offering of 4,140,000 ordinary shares in the form of 8,280,000 American Depositary Shares (ADSs) at a price to the public of $34.00 per ADS, before underwriting discounts and commissions, which included an additional 1,080,000 ADSs sold pursuant to the full exercise of the underwriters’ option to purchase additional ADSs. Each ADS represents the right to receive one-half of one ordinary share.

    As part of the public offering completed in July 2015, share capital increased by the issuance of 4,140,000 shares (€414 thousands) with a corresponding increase of €236.9 million in share premium (€254.9 million gross, or €236.9 million net after deduction of fees and expenses of €18.0 million).

    Initial public offering on the NASDAQ Global Market

    On October 22, 2014, the Company announced the pricing of its global offering of 2,673,641 common shares, of which 2,138,913 ordinary shares represented by 4,277,826 ADSs at the subscription price of $ 21.64 per ADS, as part of a public offering conducted in the United States, Canada and some countries outside of France, and 534,728 common shares at a price of € 34 per share, under a concurrent private placement conducted by leaders banks and international sales agents in France and in some countries outside the United States and Canada.

    As part of the initial public offering completed in October 2014, share capital increased by the issuance of 3,074,686 shares €(307,468) with a corresponding increase of €93,403,561 in share premium (€104,231,855 gross, or €93,403,561 net after deduction of fees and expenses for €10,828,294.23).

     

    10.2 Share Warrants and Employee Warrants

    The Company has issued share warrants (BSAs), employee warrants (BSPCEs), performance shares (AGAs) and stock-options (SO) as follows:

     

    Date

    		    Type    Number of
    warrants
    issued as of
    12/31/2015    		      Number of
    warrants
    null and
    void as of
    12/31/2015    		      Number of
    warrants
    null and
    outstanding
    as of
    12/31/2015    		      Maximum
    number of
    shares to
    be issued    		      Strike price
    per share    		  

    12/07/2007

    		    BSA      1,717        572        859        12,885      € 4.33  

    01/21/2009

    		    BSA/BSPCE      16,380        —          4,041        60,615      € 4.33  

    01/21/2009

    		    BSPCE      2,296        —          —          —        € 4.33  

    06/25/2010

    		    BSA      1,825        —          730        10,950      € 4.33  

    01/28/2011

    		    BSA      10,039        7,529        —          —        € 5.13  

    06/24/2011

    		    BSA/BSPCE      32,000        —          13,465        201,975      € 5.13  

    11/22/2011

    		    BSA/BSPCE      11,377        —          2,509        37,635      € 5.13  

    01/17/2012

    		    BSA      89,835        —          89,835        89,835      € 5.13  

    04/02/2012

    		    AGA      669,796        1,860      —          —        € —    

    07/25/2012

    		    AGA      134,081        —          —          —        € —    

    09/25/2012

    		    BSA      30,000        —          10,000        10,000      € 8.59  

    11/28/2012

    		    AGA      35,360        —          —          —        € —    

    07/25/2013

    		    BSA      73,000        —          13,000        13,000      € 8.10  

    09/12/2013

    		    AGA      501,500        113,333      101,829        101,829      € —    

    09/18/2013

    		    SO      518,000        47,000      471,000        471,000      € 7.57  

    06/03/2014

    		    BSA      10,000        —          5,000        5,000      € 18.79  

    06/03/2014

    		    AGA      186,000        30,000      156,000        156,000      € —    

    06/03/2014

    		    SO      75,000        —          75,000        75,000      € 19.01  

    03/24/2015

    		    BSA      10,000        —          10,000        10,000      € 43.00  

    06/23/2015

    		    SO      120,000        —          120,000        120,000      € 48.90

    09/30/2015

    		    AGA      708,500        —          708,500        708,500      € —    

    11/19/2015

    		    SO      195,000        —          195,000        195,000      € 66.06  

    11/19/2015

    		    BSA      22,500        7,500      15,000        15,000      € 66.06

    12/15/2015

    		    AGA      42,000        —          42,000        42,000      € —    
         

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

    Total

    		         3,496,206        207,794        2,033,768        2,336,224     
         

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		  

     

    Date

    		    Type    Number of
    warrants
    issued as of
    12/31/2016    		      Number of
    warrants
    null and
    void as of
    12/31/2016    		      Number of
    warrants
    null and
    outstanding
    as of
    12/31/2016    		      Maximum
    number of
    shares to
    be issued    		      Strike price
    per share    		  

    12/07/2007

    		    BSA      1,717        572        859        12,885      € 4.33  

    01/21/2009

    		    BSA/BSPCE      16,380        —          2,997        44,955      € 4.33  

    01/21/2009

    		    BSPCE      2,296        —          —          —        € 4.33  

    06/25/2010

    		    BSA      1,825        —          730        10,950      € 4.33  

    01/28/2011

    		    BSA      10,039        7,529        —          —        € 5.13  

    06/24/2011

    		    BSA/BSPCE      32,000        —          10,440        156,600      € 5.13  

    11/22/2011

    		    BSA/BSPCE      11,377        —          2,509        37,635      € 5.13  

    01/17/2012

    		    BSA      89,835        —          —          —        € 5.13  

    04/02/2012

    		    AGA      669,796        1,860        —          —        € —    

    07/25/2012

    		    AGA      134,081        —          —          —        € —    

    09/25/2012

    		    BSA      30,000        —          10,000        10,000      € 8.59  

    11/28/2012

    		    AGA      35,360        —          —          —        € —    

     

    Date

    		    Type    Number of
    warrants
    issued as of
    12/31/2016    		      Number of
    warrants
    null and
    void as of
    12/31/2016    		      Number of
    warrants
    null and
    outstanding
    as of
    12/31/2016    		      Maximum
    number of
    shares to
    be issued    		      Strike price
    per share    		  

    07/25/2013

    		    BSA      73,000        —          13,000        13,000      € 8.10  

    09/12/2013

    		    AGA      501,500        113,333        —          —        € —    

    09/18/2013

    		    SO      518,000        47,000        471,000        471,000      € 7.57  

    06/03/2014

    		    BSA      10,000        —          5,000        5,000      € 18.79  

    06/03/2014

    		    AGA      186,000        30,000        —          —        € —    

    06/03/2014

    		    SO      75,000        —          40,000        40,000      € 19.01  

    03/24/2015

    		    BSA      10,000        —          10,000        10,000      € 43.00  

    06/23/2015

    		    SO      120,000        —          120,000        120,000      € 48.90  

    09/30/2015

    		    AGA      708,500        13,000        695,500        695,500      € —    

    11/19/2015

    		    SO      195,000        25,000        170,000        170,000      € 66.06  

    11/19/2015

    		    BSA      22,500        7,500      15,000        15,000      € 66.06  

    12/15/2015

    		    AGA      42,000        6,000        36,000        36,000      € —    

    12/15/2015

    		    BSA      90,000        16,500        73,500        73,500      € 64.14  

    01/04/2016

    		    SO      75,000        —          75,000        75,000      € 65.68  

    04/06/2016

    		    AGA      63.750        5,000        58,750        58,750      € —    

    04/21/2016

    		    SO      33,000        —          33,000        33,000      € 62.82  

    05/02/2016

    		    SO      22,000        —          22,000        22,000      € 59.04  

    06/21/2016

    		    SO      110,000        —          110,000        110,000      € 53.96  

    06/21/2016

    		    BSA      20,000        —          20,000        20,000      € 52.97  

    06/21/2016

    		    AGA      208,000        —          208,000        208,000      € —    

    08/01/2016

    		    SO      10,000        —          10,000        10,000      € 62.24  

    09/15/2016

    		    SO      9,300        —          9,300        9,300      € 62.80  

    10/17/2016

    		    SO      16,500        —          16,500        16,500      € 64.39  

    10/27/2016

    		    AGA      15,000        —          15,000        15,000      € —    

    11/15/2016

    		    SO      8,300        —          8,300        8,300      € 68.33  

    12/09/2016

    		    SO      74,960        —          74,960        74,960      € 69,75  

    12/09/2016

    		    AGA      23,600        —          23,600        23,600      € —    
         

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

    Total

    		         4,275,616        273,294        2,360,945        2,606,435     
         

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		  

    Date

    		    Type    Number of
    warrants
    issued as of
    12/31/2017    		      Number of
    warrants
    null and
    void as of
    12/31/2017    		      Number of
    warrants
    null and
    outstanding
    as of
    12/31/2017    		      Maximum
    number of
    shares to
    be issued    		      Strike price
    per share    		  

    12/07/2007

    		    BSA      1,717        572        —          —        € 4.33  

    01/21/2009

    		    BSA/BSPCE      16,380        —          —          —        € 4.33  

    01/21/2009

    		    BSPCE      2,296        —          —          —        € 4.33  

    06/25/2010

    		    BSA      1,825        —          —          —        € 4.33  

    01/28/2011

    		    BSA      10,039        7,529        —          —        € 5.13  

    06/24/2011

    		    BSA/BSPCE      32,000        —          8,996        134,940      € 5.13  

    11/22/2011

    		    BSA/BSPCE      11,377        —          2,509        37,635      € 5.13  

    01/17/2012

    		    BSA      89,835        —          —          —        € 5.13  

    04/02/2012

    		    AGA      669,796        1,860        —          —        € —    

    07/25/2012

    		    AGA      134,081        —          —          —        € —    

    09/25/2012

    		    BSA      30,000        —          7,500        7,500      € 8.59  

    11/28/2012

    		    AGA      35,360        —          —          —        € —    

    07/25/2013

    		    BSA      73,000        —          9,500        9,500      € 8.10  

    09/12/2013

    		    AGA      501,500        113,333        —          —        € —    

    09/18/2013

    		    SO      518,000        47,000        471,000        471,000      € 7.57  

    06/03/2014

    		    BSA      10,000        —          2,500        2,500      € 18.79  

    06/03/2014

    		    AGA      186,000        30,000        —          —        € —    

    06/03/2014

    		    SO      75,000        —          40,000        40,000      € 19.01  

    03/24/2015

    		    BSA      10,000        —          10,000        10,000      € 43.00  

    Date

    		    Type    Number of
    warrants
    issued as of
    12/31/2017    		      Number of
    warrants
    null and
    void as of
    12/31/2017    		      Number of
    warrants
    null and
    outstanding
    as of
    12/31/2017    		      Maximum
    number of
    shares to
    be issued    		      Strike price
    per share    		  

    06/23/2015

    		    SO      120,000        —          120,000        120,000      € 48.90  

    09/30/2015

    		    AGA      708,500        23,000        454,657        454.657      € —    

    11/19/2015

    		    SO      195,000        25,000        170,000        170,000      € 66.06  

    11/19/2015

    		    BSA      22,500        7,500      15,000        15,000      € 66.06  

    12/15/2015

    		    AGA      42,000        9,000        21,999        21,999      € —    

    12/15/2015

    		    BSA      90,000        16,500        73,500        73,500      € 64.14  

    01/04/2016

    		    SO      75,000        —          75,000        75,000      € 65.68  

    04/06/2016

    		    AGA      63.750        6,250        57,500        57,500      € —    

    04/21/2016

    		    SO      33,000        —          33,000        33,000      € 62.82  

    05/02/2016

    		    SO      22,000        —          22,000        22,000      € 59.04  

    06/21/2016

    		    SO      110,000        7,500        101,300        101,300      € 53.96  

    06/21/2016

    		    BSA      20,000        —          20,000        20,000      € 52.97  

    06/21/2016

    		    AGA      208,000        —          208,000        208,000      € —    

    08/01/2016

    		    SO      10,000        —          10,000        10,000      € 62.24  

    09/15/2016

    		    SO      9,300        —          9,300        9,300      € 62.80  

    10/17/2016

    		    SO      16,500        7,200        9,300        9,300      € 64.39  

    10/27/2016

    		    AGA      15,000        —          15,000        15,000      € —    

    11/15/2016

    		    SO      8,300        —          8,300        8,300      € 68.33  

    12/09/2016

    		    SO      74,960        2,000        72,000        72,000      € 69,75  

    12/09/2016

    		    AGA      23,600        1,900        21,700        21,700      € —    

    12/09/2016

    		    BSA      59,000        24,992        34,008        34,008      € 69.75  

    12/15/2016

    		    SO      1,100        —          1,100        1,100      € 69.35  

    01/16/2017

    		    SO      19,100        —          19,100        19,100      € 66.11  

    03/14/2017

    		    AGA      22,500        2,500        20,000        20,000      € —    

    03/15/2017

    		    SO      7,200        —          7,200        7,200      € 66.25  

    04/18/2017

    		    SO      16,500        —          16,500        16,500      € 60.77  

    04/20/2017

    		    AGA      24,000        —          24,000        24,000      € —    

    06/15/2017

    		    SO      126,000        7,500        118,500        118,500      € 59.05  

    06/15/2017

    		    SO      111,600        —          111,600        111,600      € 60.54  

    06/15/2017

    		    BSA      9,000        —          9,000        9,000      € 59.05  

    07/17/2017

    		    SO      30,900        —          30,900        30,900      € 71.61  

    09/15/2017

    		    SO      52,600        —          52,600        52,600      € 74.22  

    12/05/2017

    		    SO      625,200        —          625,200        625,200      € 39.00  

    12/15/2017

    		    SO      8,300        —          8,300        8,300      € 38.08  
         

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

    Total

    		         5,388,616        341,196        3,148,469        3,309,539     
         

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		     

     

     

    		  

    The totals presented above do not include the warrants cancelled prior to December 31, 2009.

    As part of the initial public offering on Euronext, the nominal value of the shares underwent a fifteen-for-one share split following the decision of the Combined General Meeting of December 9, 2011.

    The impact of the share-based payments on the net income (or loss) is presented in Note 17.