VBI Vaccines Secures $12M In Second Tranche of Debt Financing With K2 HealthVentures

  • VBI Vaccines Inc VBIV has announced an agreement to draw down a $12 million second tranche under its previously announced debt financing facility with K2 HealthVentures (K2HV).
  • Under the terms of the debt financing facility, dated May 22, K2HV agreed to provide the Company up to $52 million in multiple tranches.
  • The first tranche of $20 million was drawn upon the closing.
  • The second tranche, upsized to $12 million from the initial $10 million, follows on achieving specific clinical milestones.
  • Two additional tranches of up to $10 million each remain drawable in the future upon certain conditions.
  • The first is contingent upon the achievement of a specified regulatory milestone, and the second and final tranche will be available at the discretion of K2HV.
  • Price Action: VBIV shares are 0.47% at $3.21 on the last check Friday.
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