aibioSilexion raises $2.5 million in public offering of shares and warrants at $0.65
Tickers SLXN
The best-efforts deal closed August 13, 2026. Silexion also converted $750,001 of debt owed to its former SPAC sponsor into shares at the offering price.
Key facts
- Company
- Silexion Therapeutics Corp (NASDAQ: SLXN)
- News type
- Financings
- Primary source
- SEC EDGAR: Silexion 8-K
Silexion Therapeutics (Nasdaq: SLXN) closed a best-efforts public offering on August 13, 2026 that raised approximately $2.5 million in gross proceeds, before any cash from future warrant exercises. Days later, on August 18, Nasdaq's Listing Qualifications Department sent the company a delisting notice over its shareholders' equity.
The terms
Investors bought 2,028,619 ordinary shares and 1,817,542 pre-funded warrants, each paired with a Series E warrant, for 3,846,161 Series E warrants in total. The price was $0.65 per share and $0.6499 per pre-funded warrant, including the accompanying warrant. The Series E warrants are exercisable at $0.65 immediately and run for five years. The pre-funded warrants have a $0.0001 exercise price and do not expire until exercised in full. Holders cannot exercise if they would own more than 4.99% of the shares outstanding, or 9.99% if they elect that limit.
Silexion said net proceeds were approximately $2.1 million before estimated offering expenses. It intends to use the money to advance its SIL204 clinical trial and for general corporate purposes. One investor's purchase agreement bars the company from variable rate transactions for one year after closing. The company also agreed to customary standstill restrictions for 30 days.
Who was paid
H.C. Wainwright & Co., LLC acted as sole placement agent on a best efforts basis. It received a 7.0% cash fee, a 1.0% management fee, $7,500 for non-accountable expenses, and up to $70,000 for its legal counsel and other out-of-pocket costs. It also received 269,231 placement agent warrants exercisable at $0.8125 per share, which the 8-K describes as 125% of the public offering price.
The Nasdaq notice
The notice cites Listing Rule 5550(b)(1), which requires at least $2,500,000 of shareholders' equity under the Equity Standard of the Nasdaq Capital Market. Silexion's quarterly report on Form 10-Q for the period ended June 30, 2026 reported shareholders' equity of $44,000. The company had believed it was back in compliance on a pro forma basis at that date, but says its net losses since June 30 mean it does not currently meet the requirement. The 8-K puts equity "as adjusted" at approximately $3.2 million, an estimate it calls preliminary and unaudited.
Because a Mandatory Hearings Panel Monitor applies after a Panel decision dated September 23, 2025, Nasdaq staff cannot grant more time for a deficiency that arises during the one-year monitoring period. Silexion plans to request a hearing before a Nasdaq Hearings Panel by August 25, 2026, and says it cannot assure that the appeal will succeed. If the appeal fails, trading in its shares and warrants would be suspended, and a Form 25-NSE would be filed.
The money
The 10-K reports a net loss of $11.9 million for 2025 and cash used in operations of $10.8 million. Research and development expense was $7.1 million. In the six months ended June 30, 2026, the 10-Q reports a net loss of $6,284 thousand and net cash used in operating activities of $6,571 thousand. Silexion carried out a 1-for-10 reverse share split on May 28, 2026.
At closing, Silexion also converted $750,001 of a note owed to Moringa Sponsor, L.P., the sponsor of Moringa Acquisition Corp, into 1,153,848 ordinary shares at $0.65. That cut the balance to $206,462. The net proceeds of about $2.1 million are small against the $10.8 million used in operations in 2025.
The science
Silexion is developing SIL204, a locally administered small interfering RNA that targets the KRAS oncogene. The 10-K describes it as a first-line treatment for locally advanced pancreatic cancer, given with standard chemotherapy through both intratumoral and systemic administration. The company's own risk language says preliminary lab findings on cellular uptake and gene silencing may not carry over to in vivo models or clinical outcomes. The 8-Ks and the 10-K report no efficacy result for SIL204.
Silexion was formed through a business combination with Moringa Acquisition Corp, completed on August 15, 2024. Its shares and warrants trade on the Nasdaq Capital Market.
What comes next
The next dated step is the appeal request due by August 25, 2026. Silexion says it will present the Panel with evidence that it has taken steps, and will keep taking steps, to restore compliance with the equity requirement.