Core Points - Silexion Therapeutics Corp. has entered into definitive agreements for the immediate exercise of certain outstanding warrants to purchase up to 152,106 ordinary shares at a reduced exercise price of $11.57 per share, expected to generate approximately $1.8 million in gross proceeds [1] - The company will issue new unregistered warrants to purchase up to 304,212 ordinary shares at an exercise price of $11.32 per share, which will be exercisable upon shareholder approval [3] - The company is focused on developing RNA interference therapies for KRAS-driven cancers, with its first-generation product LODER™ showing promising results in a Phase 2 trial for non-resectable pancreatic cancer [6] Financial Details - The gross proceeds from the exercise of the warrants are expected to be approximately $1.8 million, prior to deducting placement agent fees and estimated offering expenses [1] - The new warrants will have a term of twenty-four months from the effective date of the Resale Registration Statement [3] Regulatory and Compliance - The new warrants and the ordinary shares issuable upon their exercise have not been registered under the Securities Act of 1933 and may not be offered or sold in the U.S. without registration or an applicable exemption [4] - The company has agreed to file a registration statement with the SEC covering the resale of the ordinary shares issuable upon exercise of the new warrants [4]
Silexion Therapeutics Announces Exercise of Warrants for $1.8 Million Gross Proceeds