Evaxion is converting €3.5 million of loan into equity, boosting equity by $3.7 million.

From GlobeNewswire: 2024-12-17 08:00:00

Evaxion Biotech A/S is in advanced discussions with the European Investment Bank to convert €3.5 million of its €7 million loan into an equity-type instrument. This conversion is expected to boost Evaxion’s equity by $3.7 million and improve its capital structure, helping the company comply with Nasdaq listing requirements. The agreement is anticipated to be finalized in the first quarter of 2025. This move will reduce the company’s liabilities, simplify its balance sheet, and enhance its financial flexibility and cash flow, providing a significant benefit to Evaxion and its shareholders.



Read more at GlobeNewswire: Evaxion pursues agreement with EIB to bolster equity