Date closed: 6/21/2016
Value: US$13.6 million
On June 21, 2016, VBI Vaccines Inc., announced the closing of an equity private placement financing led by OPKO Health and Perceptive Advisors, with participation by ARCH Venture Partners. In accordance with Toronto Stock Exchange regulations, aggregate participation by certain current investors was limited to 10% of the issued and outstanding common shares in any given six-month period. As a result, these current investors in VBI participated to their maximum possible allocation.
Under the terms of the financing, VBI sold an aggregate of 3,269,688 of its common shares at a price of approximately US$4.16 per share for total gross proceeds of approximately US$13.6 million.
BLG represented VBI Vaccines Inc. with a team led by Graeme Martindale that included Kent Kufeldt and Tom Ladner.