VBI Vaccines Raises $2 Million in Direct Offering

VBI Vaccines Inc (VBIV) has released an update.

VBI Vaccines Inc. has launched a $2 million registered direct offering, priced according to Nasdaq rules, involving the sale of over 2.2 million common shares or equivalent pre-funded warrants, alongside a concurrent private placement of unregistered warrants. These warrants are immediately exercisable and set to expire in five years. The company aims to use the proceeds for working capital and general corporate purposes, with the offering set to close by April 11, 2024, pending customary conditions.

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