Evaxion finalizes agreement with EIB to convert debt into equity

Evaxion and the European Investment Bank (EIB) have finalized a debt settlement agreement of €3.5 million out of Evaxion's €7 million loan with EIB, to be used for EIB to purchase €3.5 million worth of ordinary Evaxion warrants

EIB will purchase the warrants at a price of $4.87 corresponding to a premium of 89% to the share price by market close yesterday

The agreement immediately increases Evaxion's equity by $4.1 million (€3.5 million)

Further, the agreement also substantially reduces Evaxion's overall liabilities, simplifies its balance sheet and improves its financial flexibility and cash flow

COPENHAGEN, Denmark, July 11, 2025 - Evaxion A/S (NASDAQ:EVAX) ("Evaxion"), a clinical-stage TechBio company specializing in developing AI-Immunology™ powered vaccines, has finalized its agreement with the European Investment Bank (EIB) to convert debt into equity.

EIB will convert €3.5 million of its €7 million loan to Evaxion into equity via a purchase of ordinary Evaxion warrants at a price of $4.87, corresponding to a premium of 89% to the share price by market close yesterday. The agreement immediately increases Evaxion's equity by $4.1 million (€3.5 million), bolstering Evaxion's capital structure. Further, it substantially reduces Evaxion's overall liabilities, simplifies its balance sheet and improves its financial ...