VBI VACCINES INC. (TSE:VBV) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
As previously reported, Variation Biotechnologies (US), Inc. (the “Borrower”), a subsidiary of VBI Vaccines, Inc. (the “Company”), the guarantors on the pages thereto (the “Guarantors”), and Perceptive Credit Holdings, L.P. (“Perceptive”) are parties to that certain Amended and Restated Credit Agreement and Guaranty, dated December 6, 2016, (the “Existing Credit Agreement”). The Existing Credit Agreement provided that the Company is required have raised at least $15,000,000 in cash common equity upon terms and conditions reasonably satisfactory to Perceptive on or before September 30, 2017 (the “Milestone”).
On September 28, 2017 the Borrower, the Company, the Guarantors and Perceptive entered into an Amendment to Amended and Restated Credit Agreement and Guaranty (the “Amendment”), to modify the date that the Company is required to have achieved the Milestone from September 30, 2017 to November 30, 2017.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth under Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
VBI Vaccines Inc/BC ExhibitEX-10.1 2 ex10-1.htm Execution Version AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT AND GUARANTY This AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT AND GUARANTY,…To view the full exhibit click here
About VBI VACCINES INC. (TSE:VBV)
VBI Vaccines Inc. is a development-stage biotechnology company. The Company’s principal products include cytomegalovirus (CMV) Vaccine Candidate, enveloped Virus Like Particle (eVLP) Vaccine Platform and Lipid Particle Vaccine (LPV) Vaccine Platform. The Company is also engaged in the research and development (R and D) activity. The Company’s subsidiaries includes Variation Biotechnologies (US), Inc. (VBI US) and Variation Biotechnologies Inc. (VBI Cda).