Scinai Immunotherapeutics Announces $4.0 Million Financing Through Private Placement and Warrant Inducement
Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) entered into a securities purchase agreement with an existing life sciences institutional investor for a private placement of 2,458,334 American Depositary Shares (ADSs) (or pre-funded warrants in lieu thereof) together with Series A-1 warrants to purchase up to 3,687,501 ADSs at a $1.20 per ADS exercise price, at a combined purchase price of $1.20 per ADS and accompanying warrants. The Company also entered into a warrant inducement agreement with the same investor f...
Key takeaways
Private placement of 2,458,334 ADSs (or pre-funded warrants in lieu thereof), each ADS representing 40,000 ordinary shares
Series A-1 warrants in the private placement exercisable for up to 3,687,501 ADSs at $1.20 per ADS, immediately exercisable, 5-year term
Combined purchase price of $1.20 per ADS and accompanying warrants (or $1.1999 per pre-funded warrant and accompanying warrants)
Warrant inducement: immediate cash exercise of 879,194 existing April 2026 warrants at reduced $1.20 per ADS exercise price
New unregistered Series A-1 warrants for up to 1,318,791 ADSs at $1.20 exercise price, immediately exercisable, 5-year term
Aggregate gross proceeds expected to be approximately $4.0 million, before placement agent fees and expenses
Closing expected on or about October 15, 2026, subject to customary closing conditions
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