VBIV - VBI Vaccines down 10% on $300M mixed shelf offering; also ends two equity offerings
- Shares of VBI Vaccines ( NASDAQ: VBIV ) declined 10% in Friday post-market trading after the company said it is terminating two "at the market" equity offerings with Jefferies and also filing for a mixed shelf offering.
- VBI ( VBIV ) shares initially shot up in after-hours trading when the SEC filing on the equity offering termination was posted, but then turned down 16 minutes later when the mixed shelf offering filing was posted.
- In July 2020 and September 2021, VBI ( VBIV ) signed agreements with Jefferies to sell shares with gross proceeds of up to $125M for each agreement.
- Prior to the termination, ~$27M of shares remained available under the first program, and all $125M remained for the second.
- Neither program was utilized in 2022.
- Separately, VBI ( VBIV ) also filed for a $300M mixed shelf offering after Friday's closing bell.
- The filing does not necessarily indicate that a sale has begun, or will occur in the future.
- The offering is for common shares, units, warrants, and subscription warrants.
- VBI ( VBIV ) plans to use the proceeds for general corporate purposes.
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VBI Vaccines down 10% on $300M mixed shelf offering; also ends two equity offerings