VBI Vaccines (VBIV) has issued an update.
VBI Vaccines Inc. successfully completed a registered direct offering on April 11, 2024, raising $1.7 million through the sale of over 2.2 million common shares and warrants, with institutional investors showing robust participation. With an immediate effect, the common warrants are exercisable at $0.76 per share, and the company plans to allocate the net proceeds towards working capital and general corporate purposes. The offering, managed exclusively by H.C. Wainwright & Co., LLC as the placement agent, also resulted in the issuance of additional warrants for the placement agent, underscoring a strategic fundraising move by VBI Vaccines.
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