VBI Vaccines Secures $12M In Second Tranche of Debt Financing With K2 HealthVentures - VBI Vaccines (NASDAQ:VBIV)

VBI Vaccines Inc VBIV has announced an agreement to draw down a $12 million second tranche under its previously announced debt financing facility with K2 HealthVentures (K2HV).
Under the terms of the debt financing facility, dated May 22, K2HV agreed to provide the Company up to $52 million in multiple tranches.
The first tranche of $20 million was drawn upon the closing.
The second tranche, upsized to $12 million from the initial $10 million, follows on achieving specific clinical milestones.
Two additional tranches of up to $10 million each remain drawable in the future upon certain conditions.
The first is contingent upon the achievement of a specified regulatory milestone, and the second and final tranche will be available at the discretion of K2HV.
Price Action: VBIV shares are 0.47% at $3.21 on the last check Friday.