Evaxion Finalizes Agreement With EIB To Convert Debt Into Equity; EIB To Convert €3.5M Of €7M Loan To Evaxion Into Equity Via Purchase Of Ordinary Evaxion Warrants At $4.87

Author: Benzinga Newsdesk | July 11, 2025 08:07am

• Evaxion and the European Investment Bank (EIB) have finalized a debt settlement agreement of €3.5 million out of Evaxion's €7 million loan with EIB, to be used for EIB to purchase €3.5 million worth of ordinary Evaxion warrants
• EIB will purchase the warrants at a price of $4.87 corresponding to a premium of 89% to the share price by market close yesterday
• The agreement immediately increases Evaxion's equity by $4.1 million (€3.5 million)
• Further, the agreement also substantially reduces Evaxion's overall liabilities, simplifies its balance sheet and improves its financial flexibility and cash flow

COPENHAGEN, Denmark, July 11, 2025 - Evaxion A/S (NASDAQ:EVAX) ("Evaxion"), a clinical-stage TechBio company specializing in developing AI-Immunology™ powered vaccines, has finalized its agreement with the European Investment Bank (EIB) to convert debt into equity.

EIB will convert €3.5 million of its €7 million loan to Evaxion into equity via a purchase of ordinary Evaxion warrants at a price of $4.87, corresponding to a premium of 89% to the share price by market close yesterday. The agreement immediately increases Evaxion's equity by $4.1 million (€3.5 million), bolstering Evaxion's capital structure. Further, it substantially reduces Evaxion's overall liabilities, simplifies its balance sheet and improves its financial flexibility and cash flow.

Posted In: EVAX