---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-029537"
form_type: "8-K"
ticker: null
cik: "0000764195"
company_name: "VBI Vaccines Inc/BC"
filed_at: "2024-07-30T23:59:59+00:00"
generated_at: "2026-05-31T15:31:27.903875+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# VBI Vaccines files for CCAA creditor protection; DIP loan of $2.5M at 17.5%

## Summary
- Ontario Superior Court granted CCAA protection on July 29, 2024; Ernst & Young appointed monitor.
- K2 HealthVentures provides up to $2.5M DIP facility at 17.5% interest to fund operations during proceedings.
- VBI will seek Chapter 15 in US and Israeli insolvency protection; SISP for asset sale expected.
- Company notified Nasdaq of expected delisting and cessation of public reporting.
- Restructuring triggers default under existing Loan Agreement; obligations accelerated with 5% default interest increase.

## SEC filing metadata
- accession: 0001493152-24-029537
- form_type: 8-K
- cik: 0000764195
- company_name: VBI Vaccines Inc/BC
- filed_at: 2024-07-30T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.03, 2.03, 2.04, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764195/000149315224029537/0001493152-24-029537-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764195/000149315224029537/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-029537
- JSON: https://secwatch.observer/filing/0001493152-24-029537.json
- Plain text: https://secwatch.observer/filing/0001493152-24-029537.txt

## Key facts
- Distress & Bankruptcy
  VBI Vaccines Inc/BC entered chapter 15 in U.S. Bankruptcy Court for the District of Delaware (petition 2024-07-29).
  - Proceeding: chapter 15
  - Court: U.S. Bankruptcy Court for the District of Delaware
  - Petition: 2024-07-29
  source text: the Company and certain of its subsidiaries intend to commence a case under Chapter 15 of the United States Bankruptcy Code (the “ Bankruptcy Code ”) under the jurisdiction of the U.S. Bankruptcy Court for the District of Delaware
  evidence_url: https://www.sec.gov/Archives/edgar/data/764195/000149315224029537/0001493152-24-029537-index.htm
- Distress & Bankruptcy
  VBI Vaccines Inc/BC entered chapter 11 in Ontario Superior Court of Justice (Commercial List) (petition 2024-07-29).
  - Proceeding: chapter 11
  - Court: Ontario Superior Court of Justice (Commercial List)
  - Petition: 2024-07-29
  source text: On July 29, 2024, after considering all strategic alternatives following consultation with its legal and financial advisors, VBI Vaccines Inc. (the “ Company ”) and its subsidiaries commenced voluntary restructuring under the jurisdiction of the Ontario Superior Court of Justice (Commercial List) pursuant to the Companies’ Creditors Arrangement Act
  evidence_url: https://www.sec.gov/Archives/edgar/data/764195/000149315224029537/0001493152-24-029537-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.