VBIV - VBI Vaccines gets up to $100M debt funding from K2 HealthVentures

• VBI Vaccines ( NASDAQ: VBIV ) said it signed an agreement for a refinanced and upsized debt facility of up to $100M with its existing lender K2 HealthVentures.
• Under the agreement, $50M is immediately available upon closing, consisting of $30M to refinance an outstanding facility the company held with K2, and an incremental $20M of non-dilutive funding.
• Future tranches of up to $25M are committed and will be available to VBI upon achieving certain clinical and financial milestones, and $25M would be available at the discretion of K2, the company said in a Sept. 15 press release.
• "Through our successful partnership with K2HV, this refinancing and access to additional capital further enables important financial flexibility as we continue our commercial launch of PreHevbrio and advance our prophylactic and therapeutic vaccine pipeline," said VBI's President and CEO Jeff Baxter.

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