Silexion Therapeutics cuts warrant exercise price to raise $840,000

Silexion Therapeutics Corp (NASDAQ: SLXN) entered into an inducement offer letter on September 28, 2026, to reduce the exercise price of 3,216,928 existing Series E warrants from $0.65 to $0.2603 per share. The company expects to receive approximately $0.84 million in gross proceeds from the cash exercise of these warrants, before deducting placement agent fees and other offering expenses.

The inducement agreement was reached with holders of the existing warrants, which were issued during a public offering completed on August 11, 2026. In exchange for the reduced exercise price, the holders agreed to exercise their warrants for cash. Silexion agreed to issue new ordinary share purchase warrants, known as New Warrants, to the holders. These new instruments allow the purchase of up to 6,433,856 ordinary shares at an exercise price of $0.2603 per share.

The New Warrants consist of two equal tranches: 3,216,928 Series F warrants and 3,216,928 Series G warrants. The company has engaged H.C. Wainwright & Co., LLC as its exclusive placement agent for the transaction. Silexion will pay H.C. Wainwright a cash fee equal to 7.0% of the aggregate gross proceeds from the exercise of the existing warrants, along with a management fee equal to 1.0% of those gross proceeds.

Additionally, the company issued Placement Agent Warrants to H.C. Wainwright or its designees. These warrants cover up to 225,185 ordinary shares, representing 7.0% of the existing warrants being exercised. The Placement Agent Warrants have an exercise price of $0.3254 per share, which is 125% of the reduced exercise price paid by the holders. The closing of these transactions is expected to occur on or about September 29, 2026, subject to customary closing conditions.

Silexion stated that it expects to use the net proceeds for general corporate purposes. The ordinary shares underlying the existing warrants are already registered under a Form S-1 statement declared effective by the Securities and Exchange Commission on August 11, 2026. The company agreed to file a resale registration statement on Form S-3 within 30 calendar days of the inducement letter date. Silexion must use commercially reasonable efforts to have this statement declared effective within 60 calendar days, or within 90 calendar days if the SEC conducts a full review.

The company also agreed not to issue any ordinary shares or equivalents, or file other registration statements with the SEC, for 15 days following the closing date, subject to certain exceptions. Furthermore, Silexion agreed not to effect any Variable Rate Transactions until one year after the closing date. The new warrants and related shares will be exercisable beginning upon shareholder approval and until the five-year anniversary of the later of the authorized share increase date or the effective date of the resale registration statement.