VBI Vaccines shares are trading lower after the company was granted protection under Canada's CCAA by the Ontario Superior Court. The company received approval for a DIP loan, and Ernst & Young was appointed as the monitor during the restructuring process.
Portfolio Pulse from Benzinga Newsdesk
VBI Vaccines shares are trading lower after the company was granted protection under Canada's CCAA by the Ontario Superior Court. The company received approval for a DIP loan, and Ernst & Young was appointed as the monitor during the restructuring process.
July 30, 2024 | 2:21 pm
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VBI Vaccines shares are trading lower after the company was granted protection under Canada's CCAA. The company received approval for a DIP loan, and Ernst & Young was appointed as the monitor during the restructuring process.
The news of VBI Vaccines being granted protection under Canada's CCAA and the appointment of Ernst & Young as the monitor indicates significant financial distress. This has led to a drop in the company's share price as investors react to the restructuring process.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100