• SciVac Therapeutics changed its name to VBI Vaccines
  • On May 6, 2016, each share of VBI Vaccines common stock was converted into the right to receive 0.520208 common shares of post-merger VBI Vaccines
  • On May 9, 2016, the combined entity began trading on The NASDAQ Capital Market under the symbol “VBIV”

VBI Vaccines Inc., a Delaware corporation (“VBI”), and SciVac Therapeutics Inc., a British Columbia corporation (“SciVac”), are pleased to announce the completion of the previously announced merger transaction, whereby SciVac acquired VBI. VBI survives the merger as a wholly-owned subsidiary of SciVac.

Listing Information

SciVac changed its name to VBI Vaccines Inc. and the combined entity commenced trading on The NASDAQ Capital Market under the symbol “VBIV” at market open on May 9, 2016.

VBI Vaccines Inc. is also listed on the Toronto Stock Exchange (“TSX”). The ticker will remain SciVac’s prior ticker, “VAC”, for several days post-closing to allow the TSX to reflect the name and symbol change, following which VBI Vaccines Inc. will trade on the TSX under its new symbol, “VBV”.

Exchange Ratio

In a press release announcing the proposed transaction on October 26, 2015, VBI announced the original exchange ratio of 20.808356 SciVac common shares for each VBI share of common stock. Subsequently, SciVac implemented a reverse split of its common shares at a ratio of 1-for-40 on April 29, 2016, which was reflected in the market on May 2, 2016. Following the reverse split, and in accordance with the terms of the merger agreement, the exchange ratio was automatically adjusted to 0.520208 SciVac common shares for each share of VBI common stock.

Headquarters and Operations

VBI Vaccines Inc., a British Columbia corporation (formerly, SciVac Therapeutics Inc.), has relocated its headquarters to VBI’s headquarters in Cambridge, Massachusetts, USA. It is currently planned that VBI’s legacy research and development facilities will remain in Ottawa, Ontario, Canada. Research, development, and manufacturing for Sci-B-Vac® will remain in Rehovot, Israel. Additionally, it is currently planned that the company will maintain the SciVac trade name in Israel and will continue to sell Sci-B-Vac® under that name. The SciVac facility in Rehovot also offers contract development and manufacturing services to the life sciences and biotechnology markets.

Additional Information

Additional combined company information can be found at the VBI website:

  • Website Home: https://www.vbivaccines.com/
  • News and Insights: https://www.vbivaccines.com/wire/
  • Investors: https://www.vbivaccines.com/investors/

 

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