- Scinai Immunotherapeutics has entered into a securities purchase agreement expected to generate approximately $2.61 million in gross proceeds.
- The company plans to use the funds to expand its CDMO platform, support customer programs, and invest in its immunotherapy pipeline.
Scinai Immunotherapeutics Ltd. announced that it has entered into a securities purchase agreement with institutional and accredited investors for the purchase and sale of 5,208,333 American Depositary Shares (ADSs), priced at $0.48 per ADS, along with accompanying warrants. The transaction, combined with a warrant inducement agreement with an existing investor, is expected to generate approximately $2.61 million in gross proceeds before fees and expenses.
The financing structure includes Series A warrants to purchase up to 5,208,333 ADSs at an exercise price of $0.48 per ADS with a two-year term, and Series B warrants to purchase up to 5,208,333 ADSs at $0.55 per ADS with a five-year term. In addition, an existing investor agreed to immediately exercise warrants for 229,310 ADSs, and will receive new warrants to purchase up to 458,621 ADSs at $0.55 per ADS, exercisable over five years.
The company expects the closing of the transactions on or about April 27, 2026, subject to customary conditions. A.G.P./Alliance Global Partners acted as the sole financial advisor for the transaction.
Scinai stated that it intends to use the net proceeds, together with existing cash resources, to expand its contract development and manufacturing organization (CDMO) platform, support ongoing customer programs, and continue selective investment in its immunotherapy pipeline.
The securities were offered through a private placement under exemptions from registration requirements of the Securities Act of 1933 and Regulation D. The company noted that the securities may not be offered or sold in the United States without registration or an applicable exemption.
