This summary is sourced from an SEC EDGAR Form 8-K filed and published on May 15, 2024. According to the source sentence, on that date VBI Vaccines Inc. entered into an At The Market Offering Agreement, the Sales Agreement, with H.C. Wainwright & Co., LLC, as sales agent.
On the financial advisory side, H.C. Wainwright & Co., LLC is identified as the sales agent for the issuer, VBI Vaccines, in a lead capacity for this at-the-market program. No other financial advisors are named in the facts block.
Legal representation for the issuer was provided by Stikeman Elliott LLP. The source sentence notes that a copy of the opinion of Stikeman Elliott LLP relating to the legality of the issuance and sale of the shares was attached as Exhibit 5.1 to the Form 8-K, indicating the firm's role was tied to the legal opinion required for the share issuance.
As an at-the-market offering, this transaction structure allows the issuer to sell shares incrementally into the market through the sales agent rather than in a single marketed offering. No further detail is given in the facts block on the specific share count, pricing mechanism, or the duration of the sales agreement.
Several facts are not disclosed in the available record. No expected closing date or program termination date is given. No sector classification is specified for VBI Vaccines in this facts block. No underwriters or additional financial advisors beyond the sales agent are named, and no further detail on the agreement's specific terms beyond its existence and the disclosed dollar value is provided.