aibioSilexion cuts warrant price to $0.2603 to raise about $0.84 million
Tickers SLXN
Holders exercising 3,216,928 existing warrants receive 6,433,856 new warrants that cannot be used until shareholders approve more authorized shares.
Key facts
- Company
- Silexion Therapeutics Corp (NASDAQ: SLXN)
- News type
- Financings
- Primary source
- SEC EDGAR: Silexion 8-K
Silexion Therapeutics (Nasdaq: SLXN) signed an inducement letter on September 28, 2026 with holders of 3,216,928 of its existing series E warrants. The holders agreed to exercise for cash at $0.2603 per share, instead of the $0.65 in the original warrants. The company expects gross proceeds of about $0.84 million before fees and expenses. In return, it is issuing new warrants that cannot be exercised until shareholders approve more authorized shares.
The terms
The existing series E warrants came from a public offering completed on August 11, 2026. They carried a five-year term and a $0.65 exercise price. The press release puts gross proceeds at $837,366.36 and expects the deal to close on or about September 29, 2026. Silexion said it would use the net proceeds as working capital.
Holders receive 3,216,928 Series F warrants and 3,216,928 Series G warrants, covering up to 6,433,856 shares at $0.2603. Those warrants become exercisable only after shareholders approve more authorized shares. The Series F warrants expire five years, and the Series G warrants twenty-four months, after the later of the share increase date and the effective date of the resale registration statement. Silexion agreed to file that resale registration statement within thirty calendar days of the letter. It also agreed not to issue ordinary shares or equivalents for 15 days after closing, and not to enter a variable rate transaction for one year after closing, with certain exceptions. Silexion is also cutting the exercise price on all outstanding series E warrants, which cover 3,846,161 shares, to $0.2603.
Who is paid
The 8-K names H.C. Wainwright & Co., LLC as its exclusive placement agent. Silexion will pay it a cash fee of 7.0% of gross proceeds and a 1.0% management fee, with the same percentages on any later cash exercise of the new warrants. The agent also receives placement agent warrants for 225,185 shares at $0.3254. The company will pay up to $25,000 for the agent's legal and other expenses, plus $5,000 for clearing fees.
H.C. Wainwright also runs an at-the-market program for Silexion. The 10-K describes an ATM Agreement dated September 26, 2025, under which the agent can sell up to $13,170,000 of ordinary shares.
The shareholder vote
The company wants its authorized ordinary shares raised by 500,000,000, from 15,900,000 to 515,900,000. It says that would help it meet Nasdaq's requirement of at least $2.5 million in shareholders' equity. A second proposal would let the board set a reverse split between 1-for-15 and 1-for-25, to restore compliance with the $1.00 minimum bid price. The shares have been below that level for 30 consecutive trading days.
The meeting opened on October 19, 2026, and was adjourned for one week without conducting any business. It reconvenes on October 26, 2026, at the offices of its external legal counsel, Meitar Law Offices, in Givatayim, Israel.
The money
Silexion reported a net loss of $11.9 million for 2025, and it used $10.8 million in operations that year. Cash and cash equivalents were $6.0 million at the end of 2025 and $2.2 million at June 30, 2026. The $0.84 million gross from this deal is small against those figures, and the company also has the at-the-market program with H.C. Wainwright.
The science
Silexion is developing SIL204, a locally administered small interfering RNA aimed at the KRAS oncogene, for locally advanced pancreatic cancer. The company says its first-generation product showed a "positive trend" in a Phase 2a trial, compared with chemotherapy alone, and that SIL204 is now in Phase 2/3 clinical evaluation. A trend is not a proven benefit. The press release and proxy report no efficacy result for SIL204 itself, and the proxy says trials are underway or planned in Israel and Germany.
What comes next
Shareholders vote on the share increase and the reverse split when the meeting reconvenes on October 26, 2026. The new warrant shares cannot be issued until the increase takes effect. The shares underlying the exercised warrants are registered on an existing Form S-1, so their exercise does not depend on that vote.