SLM Technologies establishes $98.5 million share offering program

SLM Technologies (NASDAQ: SLMT) entered into a controlled equity offering agreement with Cantor Fitzgerald & Co. on November 18, 2025, according to a company statement.

Under the sales agreement, the company may offer and sell Class B ordinary shares with a nominal value of $0.05 per share through Cantor Fitzgerald, which will act as principal and sole sales agent. The aggregate sales price of shares under the program may reach up to $98.5 million.

Cantor Fitzgerald will receive a commission of 3.0% of the aggregate gross proceeds from each sale of shares pursuant to the agreement. The agent will use commercially reasonable efforts consistent with its normal trading and sales practices to sell the shares based on the company's instructions.

Sales under the agreement may be made in transactions deemed "at the market offerings" as defined in Rule 415 under the Securities Act, or by any other method permitted by law. The company maintains no obligation to sell any shares and may suspend offers or terminate the agreement at any time.

The company has provided Cantor Fitzgerald with customary indemnification and contribution rights under the terms of the sales agreement.

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