Scinai Immunotherapeutics raises $2.61 million in private placement

Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) announced it has entered into a securities purchase agreement for a private placement financing totaling approximately $2.61 million in gross proceeds.

The Jerusalem-based biopharmaceutical company will sell 5,208,333 American Depositary Shares at $0.48 per ADS to an institutional life sciences investor along with new and existing institutional and accredited investors. Each ADS represents 4,000 ordinary shares.

The transaction includes Series A warrants to purchase up to 5,208,333 ADSs at $0.48 per ADS, exercisable immediately with a two-year term, and Series B warrants to purchase up to 5,208,333 ADSs at $0.55 per ADS, exercisable immediately with a five-year term.

Additionally, Scinai entered into a warrant inducement agreement with an existing institutional investor for the immediate exercise of warrants to purchase up to 229,310 ADSs at $0.48 per ADS. In exchange, the investor will receive new warrants to purchase up to 458,621 ADSs at $0.55 per ADS, exercisable immediately with a five-year term.

The closing is expected to occur on or about April 27, 2026, subject to customary closing conditions. A.G.P./Alliance Global Partners served as the sole financial advisor for the transactions.

Scinai plans to use the net proceeds, along with existing cash resources, to support expansion of its contract development and manufacturing organization platform, advance customer programs, and continue investment in its immunotherapy pipeline.

The company develops inflammation and immunology therapeutics and owns Scinai Biopharma Services Ltd., a contract development and manufacturing organization providing services to biotechnology and pharmaceutical companies.

You May Also Be Interested In

• Forward Industries plans $25M stock offering to buy Solana
• Zephyr Minerals plans $200K private placement, updates on Dawson Gold
• Bio-Techne shareholders vote to approve Merck KGaA acquisition