Evaxion Pursues Agreement With EIB to Bolster Equity Through Conversion of Debt Into Equity
Evaxion Pursues Agreement With EIB to Bolster Equity Through Conversion of Debt Into Equity
- Evaxion and the European Investment Bank (EIB) are in advanced discussions about conversion of €3.5 million out of Evaxion's €7 million loan with EIB into an equity-type instrument
- Such conversion is expected to increase Evaxion's equity by $3.7 million immediately upon completion
- The conversion would significantly enhance Evaxion's equity and capital structure. As such, it is an important part of Evaxion's plan on ensuring ongoing compliance with the Nasdaq listing requirements
- An agreement is expected to be finalized and implemented in the first quarter of 2025
- Evaxion和欧洲投资银行(EIB)正在就将Evaxion向欧洲投资银行提供的700万欧元贷款中的350万欧元转换为股票型工具进行深入讨论
- 预计这种转换将在完成后立即使Evaxion的股权增加370万美元
- 此次转换将显著增强Evaxion的股权和资本结构。因此,这是Evaxion确保持续遵守纳斯达克上市要求的计划的重要组成部分
- 协议预计将在2025年第一季度敲定并实施
COPENHAGEN, Denmark, December 17, 2024 - Evaxion Biotech A/S (NASDAQ: EVAX) ("Evaxion"), a clinical-stage TechBio company specializing in developing AI-Immunology powered vaccines, is pursuing a significant expected enhancement of its equity and capital structure through a conversion of debt into equity. Evaxion is currently in advanced discussions with the European Investment Bank (EIB) about conversion of €3.5 million out of Evaxion's €7 million loan with EIB into an equity-type instrument.
丹麦哥本哈根,2024年12月17日——专门开发人工智能免疫疫苗的临床阶段科技生物公司Evaxion Biotech A/S(纳斯达克股票代码:EVAX)(“Evaxion”)正在寻求通过将债务转换为股权来显著改善其股权和资本结构。Evaxion目前正在与欧洲投资银行(EIB)就将Evaxion向欧洲投资银行提供的700万欧元贷款中的350万欧元转换为股票型工具进行深入讨论。
A conversion is expected to increase Evaxion's equity by $3.7 million (€3.5 million) immediately upon completion and constitutes an important part of Evaxion's plan to ensure ongoing compliance with the Nasdaq listing requirements. Evaxion has no debt besides the EIB-loan, so the conversion would also substantially reduce the company's overall liabilities, simplify its balance sheet and improve its financial flexibility and cash flow.
预计转换将在完成后立即使Evaxion的股权增加370万美元(合350万欧元),这是Evaxion确保持续遵守纳斯达克上市要求的计划的重要组成部分。Evaxion除了欧洲投资银行贷款外没有债务,因此转换还将大大减少该公司的总负债,简化资产负债表,改善其财务灵活性和现金流。
"We are very pleased to have advanced discussions with EIB and to have taken this important step to significantly strengthen our equity through a conversion of debt. The terms being discussed with EIB are favorable to us and our shareholders, and a reduction in our long-term liabilities should improve our standing in the financial community. We appreciate the ongoing support from EIB," says Christian Kanstrup, CEO of Evaxion.
“我们很高兴与欧洲投资银行进行了深入的讨论,并采取了这一重要步骤,通过债务转换来显著增强我们的股权。与欧洲投资银行讨论的条款对我们和我们的股东都有利,减少我们的长期负债应该会提高我们在金融界的地位。我们感谢欧洲投资银行的持续支持。” Evaxion首席执行官克里斯蒂安·坎斯特鲁普说。
Evaxion obtained the loan from EIB in 2020. An agreement between Evaxion and EIB would be subject to certain conditions. Such agreement is expected to be finalized and implemented in the first quarter of 2025.
Evaxion于2020年从欧洲投资银行获得了贷款。Evaxion和eIB之间的协议将受到某些条件的约束。该协议预计将在2025年第一季度敲定并实施。
Contact information
Evaxion Biotech A/S
Mads Kronborg
Vice President, Investor Relations & Communication
+45 53 54 82 96
mak@evaxion-biotech.com
联系信息
Evaxion Biotech A/S
马兹·克伦博格
投资者关系与传播副总裁
+45 53 54 82 96
mak@evaxion-biotech.com
About EVAXION
Evaxion Biotech A/S is a pioneering TechBio company based upon its AI platform, AI-Immunology. Evaxion's proprietary and scalable AI prediction models harness the power of artificial intelligence to decode the human immune system and develop novel immunotherapies for cancer, bacterial diseases, and viral infections. Based upon AI-Immunology, Evaxion has developed a clinical-stage oncology pipeline of novel personalized vaccines and a preclinical infectious disease pipeline in bacterial and viral diseases with high unmet medical needs. Evaxion is committed to transforming patients' lives by providing innovative and targeted treatment options. For more information about Evaxion and its groundbreaking AI-Immunology platform and vaccine pipeline, please visit our website.
关于 EVAXION
Evaxion Biotech A/S是一家基于其人工智能平台AI免疫学的开创性TechBio公司。Evaxion 专有且可扩展的人工智能预测模型利用人工智能的力量来解码人体免疫系统,开发针对癌症、细菌性疾病和病毒感染的新型免疫疗法。基于人工智能免疫学,Evaxion开发了临床阶段的新型个性化疫苗的肿瘤学产品线,以及针对未满足大量医疗需求的细菌和病毒性疾病的临床前传染病管线。Evaxion致力于通过提供创新的有针对性的治疗方案来改变患者的生活。有关Evaxion及其开创性的人工智能免疫学平台和疫苗管道的更多信息,请访问我们的网站。
Forward-looking statement
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "target," "believe," "expect," "hope," "aim," "intend," "may," "might," "anticipate," "contemplate," "continue," "estimate," "plan," "potential," "predict," "project," "will," "can have," "likely," "should," "would," "could," and other words and terms of similar meaning identify forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including, but not limited to, risks related to: our financial condition and need for additional capital; our development work; cost and success of our product development activities and preclinical and clinical trials; commercializing any approved pharmaceutical product developed using our AI platform technology, including the rate and degree of market acceptance of our product candidates; our dependence on third parties including for conduct of clinical testing and product manufacture; our inability to enter into partnerships; government regulation; protection of our intellectual property rights; employee matters and managing growth; our ADSs and ordinary shares, the impact of international economic, political, legal, compliance, social and business factors, including inflation, and the effects on our business from other significant geo-political and macro-economic events; and other uncertainties affecting our business operations and financial condition. For a further discussion of these risks, please refer to the risk factors included in our most recent Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. We do not assume any obligation to update any forward-looking statements except as required by law.
前瞻性陈述
本公告包含经修订的1933年《证券法》第27A条和经修订的1934年《证券交易法》第21E条所指的前瞻性陈述。“目标”、“相信”、“期望”、“希望”、“目标”、“打算”、“可能”、“预测”、“考虑”、“继续”、“估计”、“计划”、“潜力”、“预测”、“项目”、“将会”、“可能”、“可能”、“应该”、“会”、“可能” 等词语具有相似含义的术语用于识别前瞻性陈述。由于各种因素,实际结果可能与此类前瞻性陈述所示结果存在重大差异,包括但不限于以下方面的风险:我们的财务状况和对额外资本的需求;我们的开发工作;我们的产品开发活动以及临床前和临床试验的成本和成功;使用我们的人工智能平台技术开发的任何经批准的药品的商业化,包括候选产品的市场接受率和程度;我们对第三方的依赖,包括进行临床测试和产品制造;我们无法建立合作伙伴关系;政府监管;保护我们的知识产权;员工事务和增长管理;我们的ADS和普通股;包括通货膨胀在内的国际经济、政治、法律、合规、社会和商业因素的影响,以及其他重大地缘政治和宏观经济事件对我们业务的影响;以及影响我们业务运营和财务状况的其他不确定性。有关这些风险的进一步讨论,请参阅我们最新的20-F表年度报告和向美国证券交易委员会(SEC)提交的其他文件中包含的风险因素,这些文件可在www.sec.gov上查阅。除非法律要求,否则我们不承担任何更新任何前瞻性陈述的义务。