Silexion Therapeutics Corp. (SLXN) has secured approximately $1 million in gross proceeds following the immediate exercise of previously issued warrants, providing additional working capital as the company advances its RNA interference (RNAi) pipeline targeting KRAS-driven cancers.
The exercised warrants, originally issued in August and September 2025, were repriced to $0.50 per share and cover a total of 1,995,092 ordinary shares. The shares underlying these warrants are registered under effective Form S-3 registration statements.
The transaction is expected to close on or about May 18, 2026, subject to customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent. Silexion plans to use the net proceeds for general corporate purposes and working capital.
As part of the agreement, Silexion will issue new unregistered Series C and Series D warrants to investors in consideration for the immediate exercise. The Series C warrants will allow the purchase of up to 2,045,000 ordinary shares, while the Series D warrants will allow the purchase of up to 1,945,184 shares. Both series carry an exercise price of $0.50 per share and become exercisable upon shareholder approval and the effectiveness of a resale registration statement.
The Series C warrants will expire five years after the later of shareholder approval or the effective date of the resale registration statement, while the Series D warrants will expire 24 months after those same conditions are met.
Silexion noted that the new warrants were issued in a private placement under an exemption from SEC registration requirements. The company has agreed to file a resale registration statement covering the ordinary shares issuable upon exercise of the new warrants.
The company implemented a 1-for-15 reverse stock split on July 28, 2025.
SLXN is currently trading at $0.26, down 47.87%.
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