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Silexion Therapeutics Corp (NASDAQ:SLXN) implemented a 1-for-15 reverse share split of its ordinary shares after the close of trading on Monday, according to a statement released in a SEC filing. The company’s shares began trading on a split-adjusted basis on the Nasdaq Capital Market at market open Tuesday under the same ticker symbol, SLXN.
Following the reverse split, each outstanding ordinary share was converted into 1/15th of a share. The par value of the ordinary shares increased from $0.0009 to $0.0135 per share, while the authorized share capital remains at $20,000, now consisting of 1,481,482 ordinary shares. The company’s new CUSIP number for ordinary shares is G1281K 130.
Silexion also notified holders of its warrants (NASDAQ:SLXNW) that the number of shares issuable upon exercise of each warrant was adjusted to reflect the reverse split. Each warrant, previously exercisable for one ordinary share, is now exercisable for 1/15th of an ordinary share, and the exercise price per share was increased fifteen-fold to $1,552.50. The trading symbol for the warrants remains SLXNW, and the CUSIP number is unchanged at G1281K 114.
Fractional shares resulting from the exercise of warrants will not be issued. Instead, any fractional shares at the broker level will be rounded up to the nearest whole share, subject to payment of the full exercise price for that whole share.
The reverse share split was approved by shareholders at the annual general meeting held July 14 and was enacted by the board of directors through an amendment to the company’s memorandum of association filed in the Cayman Islands on Monday.
All information is based on a press release statement filed with the Securities and Exchange Commission.
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