Filing Details

Accession Number:
0001193125-23-095375
Form Type:
13D Filing
Publication Date:
2023-04-06 20:00:00
Filed By:
Perceptive Advisors
Company:
Vbi Vaccines Inc (NASDAQ:VBIV)
Filing Date:
2023-04-07
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Perceptive Advisors 0 43,509,553 0 43,509,553 43,509,553 16.7%
Joseph Edelman 0 43,509,553 0 43,509,553 43,509,553 16.7%
Perceptive Life Sciences Master Fund, Ltd 0 41,440,729 0 41,440,729 41,440,729 16.0%
Perceptive Credit Holdings 0 2,068,824 0 2,068,824 2,068,824 0.8%
Filing

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

SCHEDULE 13D/A

THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 7)*

 

 

VBI Vaccines Inc.

(Name of Issuer)

Common Shares, no par value per share

(Title of Class of Securities)

91822J 10 3

(CUSIP Number)

Alexander Rakitin

Perceptive Advisors LLC

51 Astor Place, 10th Floor

New York, NY 10003

(646) 205-5340

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

April 4, 2023

(Date of Event Which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13D-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box  ☐.

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

 

The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 91822J 10 3

 

  (1)    

  Name of reporting persons

 

  Perceptive Advisors LLC

  (2)  

  Check the appropriate box if a member of a group

  (a)  ☐        (b)  ☑

 

  (3)  

  SEC use only

 

  (4)  

  Source of funds

 

  AF

  (5)  

  Check box if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  (6)  

  Citizenship or place of organization

 

  Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     (7)    

  Sole voting power

 

  0

     (8)  

  Shared voting power

 

  43,509,553

     (9)  

  Sole dispositive power

 

  0

   (10)  

  Shared dispositive power

 

  43,509,553

(11)    

  Aggregate amount beneficially owned by each reporting person

 

  43,509,553

(12)  

  Check box if the aggregate amount in Row (11) excludes certain shares*

 

  ☐

(13)  

  Percent of class represented by amount in Row (11)

 

  16.7%

(14)  

  Type of reporting person

 

  IA


CUSIP No. 91822J 10 3

 

  (1)    

  Name of reporting persons

 

  Joseph Edelman

  (2)  

  Check the appropriate box if a member of a group

  (a)  ☐        (b)  ☑

 

  (3)  

  SEC use only

 

  (4)  

  Source of funds

 

  AF

  (5)  

  Check box if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  (6)  

  Citizenship or place of organization

 

  United States of America

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     (7)    

  Sole voting power

 

  0

     (8)  

  Shared voting power

 

  43,509,553

     (9)  

  Sole dispositive power

 

  0

   (10)  

  Shared dispositive power

 

  43,509,553

(11)    

  Aggregate amount beneficially owned by each reporting person

 

  43,509,553

(12)  

  Check box if the aggregate amount in Row (11) excludes certain shares*

 

  ☐

(13)  

  Percent of class represented by amount in Row (11)

 

  16.7%

(14)  

  Type of reporting person

 

  IN


CUSIP No. 91822J 10 3

 

  (1)    

  Name of reporting persons

 

  Perceptive Life Sciences Master Fund, Ltd.

  (2)  

  Check the appropriate box if a member of a group

  (a)  ☐        (b)  ☑

 

  (3)  

  SEC use only

 

  (4)  

  Source of funds

 

  WC

  (5)  

  Check box if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  (6)  

  Citizenship or place of organization

 

  Cayman Islands

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     (7)    

  Sole voting power

 

  0

     (8)  

  Shared voting power

 

  41,440,729

     (9)  

  Sole dispositive power

 

  0

   (10)  

  Shared dispositive power

 

  41,440,729

(11)    

  Aggregate amount beneficially owned by each reporting person

 

  41,440,729

(12)  

  Check box if the aggregate amount in Row (11) excludes certain shares*

 

  ☐

(13)  

  Percent of class represented by amount in Row (11)

 

  16.0%

(14)  

  Type of reporting person

 

  CO


CUSIP No. 91822J 10 3

 

  (1)    

  Name of reporting persons

 

  Perceptive Credit Holdings, LP

  (2)  

  Check the appropriate box if a member of a group

  (a)  ☐        (b)  ☑

 

  (3)  

  SEC use only

 

  (4)  

  Source of funds

 

  WC

  (5)  

  Check box if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  (6)  

  Citizenship or place of organization

 

  Delaware

Number of

shares

 beneficially 

owned by

each

reporting

person

with

 

     (7)    

  Sole voting power

 

  0

     (8)  

  Shared voting power

 

  2,068,824

     (9)  

  Sole dispositive power

 

  0

   (10)  

  Shared dispositive power

 

  2,068,824

(11)    

  Aggregate amount beneficially owned by each reporting person

 

  2,068,824

(12)  

  Check box if the aggregate amount in Row (11) excludes certain shares*

 

  ☐

(13)  

  Percent of class represented by amount in Row (11)

 

  0.8%

(14)  

  Type of reporting person

 

  PN


CUSIP No. 91822J 10 3

 

Item 5 Interest in Securities of the Issuer.

Item 5 is amended and supplemented as follows:

(a)-(b) The information required by this item with respect to each Reporting Person is set forth in Rows 7 through 11 and 13 of each cover page to this Schedule 13D. The ownership percentages reported are based on 258,257,494 outstanding shares of Common Stock as reported by the Issuer in its Form 10-K filed on March 13, 2023.

The Master Fund directly holds 41,440,729 shares of Common Stock. The Credit Fund directly holds 2,068,824 warrants each exercisable for one share of Common Stock. The Investment Manager serves as the investment manager to the Master Fund and the Credit Fund and may be deemed to beneficially own the securities directly held by the Fund and the Credit Fund. Mr. Edelman is the managing member of the Investment Manager and may be deemed to beneficially own the securities directly held by the Master Fund and the Credit Fund.

(c) The transactions in the Common Stock effected by the Reporting Persons during the past sixty days is set forth below:

 

Name

  

Date of Transaction

  

Number of Shares

Acquired or Disposed

  

Type of Transaction

  

Price per Share(1)

Master Fund

   04/4/2023    (4,810,623)    Sale    $0.16(2)

Master Fund

   04/5/2023    (1,832,563)    Sale    $0.13(3)

Master Fund

   04/6/2023    (4,251,087)    Sale    $0.11(4)

 

(1)

The prices reported in this column are weighted average prices. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges of the prices reported.

(2)

These shares were purchased in multiple transactions at prices ranging from $0.14 to $0.21, inclusive.

(3)

These shares were purchased in multiple transactions at prices ranging from $0.12 to $0.15, inclusive.

(4)

These shares were purchased in multiple transactions at prices ranging from $0.10 to $0.126, inclusive.

(d)-(e) Not applicable


SIGNATURE

After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date: April 7, 2023

 

PERCEPTIVE ADVISORS LLC
By:   /s/ Joseph Edelman
  Name: Joseph Edelman
  Title: Managing Member

 

/s/ Joseph Edelman
JOSEPH EDELMAN

 

PERCEPTIVE LIFE SCIENCES MASTER FUND, LTD.
By:   Perceptive Advisors LLC
By:   /s/ Joseph Edelman
  Name: Joseph Edelman
  Title: Managing Member

 

PERCEPTIVE CREDIT HOLDINGS, LP
By:   Perceptive Advisors LLC
By:   /s/ Joseph Edelman
  Name: Joseph Edelman
  Title: Managing Member