On January 3, 2025, VBI Vaccines Inc. completed its acquisition by K2 VBI Equity Trust, LLC, an affiliate of K2 HealthVentures LLC, during CCAA restructuring proceedings. The Ontario Superior Court approved the amended acquisition agreement on October 31, 2024. All VBI common shares were redeemed and canceled, and VBI became a wholly owned subsidiary of the purchaser.

Legal advisors included Stikeman Elliott LLP for VBI, McMillan LLP for K2, and McCarthy Tétrault LLP for the monitor, Ernst & Young Inc. A partial revocation order from the British Columbia Securities Commission allowed the transaction to proceed.

VBI plans to cease reporting under Canadian and U.S. securities laws. Transaction value was not disclosed.