Evaxion Biotech A/S announced on December 17, 2024, that it is in advanced discussions with the European Investment Bank (EIB) to convert a portion of its outstanding loan into equity. The plan involves converting €3.5 million out of Evaxion’s €7 million loan with EIB into an equity-type instrument.
This conversion is expected to immediately increase Evaxion’s equity by $3.7 million upon completion. The strategic move aims to significantly enhance Evaxion’s equity and capital structure.
The company stated that this agreement is an important part of its plan to ensure ongoing compliance with Nasdaq listing requirements. The finalization and implementation of this agreement are anticipated in the first quarter of 2025.
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