BofA update shows where active managers are putting money
Investing.com -- Silexion Therapeutics Corp (NASDAQ:SLXN) stock tumbled 22.4% in pre-market trading after the clinical-stage biotech company announced definitive agreements for the immediate exercise of certain outstanding warrants.
The agreements involve the exercise of warrants to purchase up to 152,106 of the company’s ordinary shares at a reduced exercise price of $11.57 per share, down from their original price when issued in January 2025. The transaction is expected to generate approximately $1.8 million in gross proceeds for Silexion, which develops RNA interference therapies for KRAS-driven cancers.
As part of the deal, Silexion will issue new unregistered warrants to purchase up to 304,212 of the company’s ordinary shares. These new warrants will have an exercise price of $11.32 per share and a term of twenty-four months, but can only be exercised following shareholder approval to increase the company’s authorized ordinary shares.
H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering, which is expected to close around August 1, 2025. Silexion intends to use the proceeds as working capital for general corporate purposes.
The ordinary shares issuable upon exercise of the original warrants are already registered under effective registration statements on Form S-1.
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