Scinai Immunotherapeutics (SCNI) has released an update.
Scinai Immunotherapeutics is poised for a financial turnaround as it receives a non-binding Letter of Intent from the European Investment Bank to convert a $27.6 million loan into equity, a move that could resolve the company’s shareholders’ deficit and improve its Nasdaq compliance standing. This restructuring would not only eliminate a $4.5 million deficit but also create an estimated $14.5 million equity surplus, with the potential to enhance the company’s financial stature. Nevertheless, this proposed financial reshaping is subject to formal approvals and the completion of legal amendments.
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