Scinai Immunotherapeutics (SCNI) has released an update.
Scinai Immunotherapeutics has successfully restructured its loan with the European Investment Bank, converting approximately $29 million of debt into preferred equity and reducing its debt balance to $273,000. This financial maneuver has elevated the company’s stockholders’ equity above the Nasdaq’s minimum requirement of $2.5 million, potentially bringing it back into compliance with listing standards. The preferred shares issued in the deal have specific terms, including a 12-month lock-up period and conversion restrictions to maintain the company’s investment profile.
For further insights into SCNI stock, check out TipRanks’ Stock Analysis page.
