Main Menu

VBI Vaccines Closes $23.6 Million Financing

December 6, 2016

MSK client VBI Vaccines Inc. (NASDAQ: VBIV) (VBV.TO) ("VBI"), a clinical-stage biopharmaceutical company developing infectious disease and immuno-oncology vaccines, announced on Tuesday, December 6th, that it has raised $23.6 million in concurrent equity and debt financing transactions with Perceptive Advisors.

Under the terms of the equity financing, VBI sold an aggregate of 3,475,000 of its common shares at a price of $3.05 per share in a private placement to Perceptive Advisors, for total gross proceeds of approximately $10.6 million.

Additionally, Perceptive Advisors increased its current credit agreement with VBI by funding an additional $13 million in secured debt. In conjunction with the additional debt funding, VBI issued a warrant to Perceptive Advisors for the purchase of an aggregate of 1,341,282 common shares at an exercise price of $3.36 per share.

MSK served as VBI’s legal counsel in the venture debt facility and was led by Kevin Friedmann, Chairman of the Corporate & Business Transactions Department. The MSK team also included Partner Tony Adler and Gabrielle Napolitano serving as the lead associate.

Media contact:
Doug Gold, Chief Marketing Officer


Back to Page