Scinai Immunotherapeutics Signed Definitive Loan Restructuring Agreement With The European Investment Bank, Converting Approximately $29M Of Debt To Preferred Equity Convertible Into 19.5% Equity
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Scinai Immunotherapeutics has signed a definitive loan restructuring agreement with the European Investment Bank, converting approximately $29 million of debt into preferred equity, which is convertible into 19.5% equity.
August 13, 2024 | 11:14 am
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Scinai Immunotherapeutics has restructured $29 million of debt with the European Investment Bank, converting it into preferred equity convertible into 19.5% equity.
The conversion of debt to equity reduces Scinai's debt burden and improves its balance sheet, which is generally positive for the stock price. The preferred equity is convertible into a significant 19.5% equity stake, indicating strong investor confidence.
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