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Soligenix, Inc. (SNGX) Files for Share and Warrant Offering

April 2, 2024 5:08 PM EDT

Soligenix, Inc. (NASDAQ: SNGX) has filed the following:

We are offering up to $10.0 million of shares of common stock together with common warrants to purchase up to 16,393,443 shares of common stock. Each share of our common stock, or pre-funded warrant in lieu thereof, is being sold together with a common warrant to purchase up to 16,393,443 shares of our common stock. The shares of common stock and common warrants are immediately separable and will be issued separately in this offering, but must be purchased together in this offering.

We have assumed a public offering price of $0.61 per share, the last reported sale price of our common stock on The Nasdaq Capital Market on March 27, 2024. The common warrants will have an assumed initial exercise price of $0.61 per share (assuming an exercise price equal to the last reported sale price of our common stock on The Nasdaq Capital Market on March 27, 2024, which was $0.61 per share) and will have a five-year term. The actual public offering price will be determined between us, A.G.P./Alliance Global Partners (whom we refer to herein as “AGP” or the “Placement Agent”) and the investors in the offering, and may be at a discount to the current market price of our common stock. Therefore, the assumed public offering price used throughout this prospectus may not be indicative of the final offering price.

We are also offering pre-funded warrants to purchase up to 16,393,443 shares of common stock to those purchasers whose purchase of shares of common stock in this offering would result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock immediately following the consummation of this offering, in lieu of shares of common stock that would result in beneficial ownership in excess of 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock. Each pre-funded warrant is exercisable for one share of our common stock and has an exercise price of $0.001 per share. Each pre-funded warrant is being offered together with the common warrants. The pre-funded warrants and common warrants are immediately separable and will be issued separately in this offering, but must be purchased together in this offering. For each pre-funded warrant that we sell, the number of shares of common stock we are offering will be reduced on a one-for-one basis.



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