Silexion Therapeutics Announces Warrant Exercise Deal and Price Cut

What Happened

• On September 28, 2026, Silexion Therapeutics (SLXN) entered an inducement letter with certain holders to accelerate cash exercise of 3,216,928 existing Series E warrants at a reduced exercise price of $0.2603 per share. In exchange, Silexion agreed to issue new warrants (Series F and Series G) to purchase up to 6,433,856 ordinary shares (3,216,928 Series F + 3,216,928 Series G).
• The company expects to receive approximately $0.84 million in gross proceeds from the holders’ cash exercise of those Existing Warrants (before placement agent fees and expenses). The transactions are expected to close on or about September 29, 2026, subject to customary conditions.

Key Details

• Exercise and issuance: 3,216,928 Existing Series E warrants to be exercised at $0.2603; New Warrants cover up to 6,433,856 shares at $0.2603 exercise price.
• Series durations: Series F Warrants expire 5 years after the later of the Authorized Share Increase Date or the Resale Registration effective date; Series G Warrants expire 24 months after that later date.
• Placement agent terms: H.C. Wainwright & Co. engaged as exclusive placement agent; cash fee 7.0% of gross proceeds + 1.0% management fee; Placement Agent Warrants to buy up to 225,185 shares (7.0% of exercised Existing Warrants) at $0.3254 exercise price; up to $30,000 in additional fees/expenses.
• Company-wide price reduction: The company lowered the exercise price for all outstanding Series E warrants (totaling 3,846,161 warrants) to $0.2603 per share as part of the offering.

Why It Matters

• Cash and dilution: The deal should provide roughly $0.84M in near-term gross cash (before fees) but creates potential dilution — up to millions of shares underlying the New Warrants plus Placement Agent Warrants if exercised.
• Increased likelihood of exercise: Reducing the Series E exercise price makes exercise more attractive to warrant holders, increasing the chance of conversion to shares (and associated dilution), while also raising short-term cash for the company.
• Liquidity and registration: Silexion must file a resale registration statement for the New Warrant Shares (to be filed within 30 days and targeted to be declared effective within 60–90 days), which, if effective, will allow holders to resell shares issued on exercise. Until then, the new instruments were offered under an exemption to registration (Section 4(a)(2)) to accredited investors.