Form 424B3 Evogene Ltd.
Filed Pursuant to Rule 424(b)(3)
Registration No. 333-282218
PROSPECTUS SUPPLEMENT NO. 1
(to Prospectus dated March 26, 2026)
EVOGENE LTD.
2,446,707 Ordinary Shares
Offered by the Selling Shareholder
This Prospectus Supplement No. 1 updates, amends, and supplements the prospectus dated March 26, 2026 (as amended and supplemented, the “Prospectus”), which forms a part of our Registration Statement on Form F-1 (Registration No. 333- 282218), as most recently amended by Post-Effective Amendment No. 3 filed with the SEC on March 26, 2026, which was declared effective on April 3, 2026. Capitalized terms used in this prospectus supplement and not otherwise defined herein have the meanings specified in the Prospectus.
This prospectus supplement is being filed to update, amend, and supplement the information in the Prospectus with the GAAP financial statements as of, and for the three month period ended on, March 31, 2026 (the “Q1 2026 financial statements”) included in the press release attached as Exhibit 99.1 to our Report of Foreign Private Issuer on Form 6-K furnished to the Securities and Exchange Commission on May 20, 2026. Accordingly, we have included the Q1 2026 financial statements in this prospectus supplement.
This prospectus supplement is not complete without the Prospectus. This prospectus supplement should be read in conjunction with the Prospectus, which is to be delivered with this prospectus supplement, and is qualified by reference thereto, except to the extent that the information in this prospectus supplement updates or supersedes the information contained in the Prospectus. Please keep this prospectus supplement with your Prospectus for future reference.
As of the date of this prospectus supplement, our ordinary shares are listed and trade on the Nasdaq Capital Market under the symbol “EVGN”. The last reported sale price of our ordinary shares on May 19, 2026, was $0.74 per share.
Investing in our ordinary shares is highly speculative and involves a high degree of risk. See “Risk Factors” beginning on page 5 of the Prospectus for a discussion of information that should be considered in connection with an investment in our ordinary shares, as well as the risks described under the heading “Item 3 Key Information - D. Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2025, which we filed with the Securities and Exchange Commission on March 26, 2026, and in other documents incorporated by reference into the Prospectus, and under similar headings in any amendment or supplements to the Prospectus.
Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved these securities, or determined if the Prospectus or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is May 20, 2026
CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
U.S. dollars in thousands
| March 31, | December 31, | |||||||
| 2026 | 2025 | |||||||
| Unaudited | ||||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 8,511 | $ | 12,956 | ||||
| Short-term bank deposits | 4,543 | - | ||||||
| Restricted cash | 32 | 32 | ||||||
| Trade receivables | 286 | 317 | ||||||
| Other receivables and prepaid expenses | 1,416 | 1,565 | ||||||
| Deferred expenses related to issuance of warrants | - | 551 | ||||||
| Inventories | 175 | 210 | ||||||
| 14,963 | 15,631 | |||||||
| LONG-TERM ASSETS: | ||||||||
| Long-term deposits and other receivables | 576 | 571 | ||||||
| Investment accounted for using the equity method | - | 43 | ||||||
| Deferred expenses related to issuance of warrants | - | 1,165 | ||||||
| Right-of-use-assets | 1,672 | 1,824 | ||||||
| Property, plant and equipment, net | 737 | 812 | ||||||
| 2,985 | 4,415 | |||||||
| TOTAL ASSETS | $ | 17,948 | $ | 20,046 | ||||
| LIABILITIES AND EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Trade payables | $ | 463 | $ | 639 | ||||
| Employees and payroll accruals | 922 | 861 | ||||||
| Lease liabilities | 654 | 716 | ||||||
| Liabilities in respect of government grants | 101 | 56 | ||||||
| Deferred revenues and other advances | 21 | 17 | ||||||
| Warrants and pre-funded warrants liability | 1,721 | 706 | ||||||
| Other payables | 1,482 | 449 | ||||||
| 5,364 | 3,444 | |||||||
| LONG-TERM LIABILITIES: | ||||||||
| Lease liabilities | 1,377 | 1,482 | ||||||
| Liabilities in respect of government grants | 3,149 | 3,073 | ||||||
| Deferred revenues and other advances | 68 | 72 | ||||||
| 4,594 | 4,627 | |||||||
| TOTAL LIABILITIES | $ | 9,958 | $ | 8,071 | ||||
| SHAREHOLDERS' EQUITY:s | ||||||||
| Ordinary shares of NIS 0.2 par value: Authorized – 30,000,000 ordinary shares; Issued and outstanding – 10,412,764 ordinary shares on March 31, 2026 and 6,672,173 ordinary shares on December 31, 2025 | 708 | 488 | ||||||
| Share premium and other capital reserves | 285,173 | 281,986 | ||||||
| Accumulated deficit | (288,426 | ) | (282,556 | ) | ||||
| Equity attributable to equity holders of the Company | (2,545 | ) | (82 | ) | ||||
| Non-controlling interests | 10,535 | 12,057 | ||||||
| TOTAL EQUITY | 7,990 | 11,975 | ||||||
| TOTAL LIABILITIES AND EQUITY | $ | 17,948 | $ | 20,046 | ||||
CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS
U.S. dollars in thousands (except share and per share amounts)
Three months ended March 31, | Year ended December 31, | |||||||||||
| 2026 | 2025(*) | 2025 | ||||||||||
| Unaudited | ||||||||||||
| Revenues | $ | 334 | $ | 2,343 | $ | 3,853 | ||||||
| Cost of revenues: | ||||||||||||
| Inventory impairment | - | - | 2,180 | |||||||||
| Other cost of revenues | 130 | 1,517 | 1,914 | |||||||||
| Total Cost of Revenues | 130 | 1,517 | 4,094 | |||||||||
| Gross profit | 204 | 826 | (241 | ) | ||||||||
| Operating expenses (income): | ||||||||||||
| Research and development, net | 1,839 | 2,471 | 7,994 | |||||||||
| Sales and marketing | 389 | 397 | 1,476 | |||||||||
| General and administrative | 1,156 | 1,176 | 4,286 | |||||||||
| Other expenses (income) | (30 | ) | (191 | ) | 37 | |||||||
| Total operating expenses, net | 3,354 | 3,853 | 13,793 | |||||||||
| Operating loss | (3,150 | ) | (3,027 | ) | (14,034 | ) | ||||||
| Financing income | 1,171 | 1,584 | 2,508 | |||||||||
| Financing expenses | (3,884 | ) | (458 | ) | (1,933 | ) | ||||||
| Financing income (expenses), net | (2,713 | ) | 1,126 | 575 | ||||||||
| Share of loss of an associate | 43 | 2 | 39 | |||||||||
| Loss before taxes on income | (5,906 | ) | (1,903 | ) | (13,498 | ) | ||||||
| Taxes on income | 4 | - | 1 | |||||||||
| Loss from continuing operations | (5,910 | ) | (1,903 | ) | (13,499 | ) | ||||||
| Income (loss) from discontinued operations, net | 14 | (1,086 | ) | 5,672 | ||||||||
| Loss | $ | (5,896 | ) | $ | (2,989 | ) | $ | (7,827 | ) | |||
| Attributable to: | ||||||||||||
| Equity holders of the Company | (5,870 | ) | (2,587 | ) | (8,485 | ) | ||||||
| Non-controlling interests | (26 | ) | (402 | ) | 658 | |||||||
| $ | (5,896 | ) | $ | (2,989 | ) | $ | (7,827 | ) | ||||
| Basic and diluted gain (loss) per share from continuing operations, attributable to equity holders of the Company | $ | (0.60 | ) | $ | (0.26 | ) | $ | (1.70 | ) | |||
| Basic and diluted gain (loss) per share from discontinued operations, attributable to equity holders of the Company | $ | 0.00 | $ | (0.12 | ) | $ | 0.62 | |||||
| Basic and diluted gain (loss) per share, attributable to equity holders of the Company | $ | (0.60 | ) | $ | (0.38 | ) | $ | (1.08 | ) | |||
| Weighted average number of shares used in computing basic and diluted loss per share | 9,738,434 | 6,798,173 | 7,874,039 | |||||||||
(*) Reclassified to conform to the current period presentation, following the classification of certain operations as discontinued operations.
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
Three months ended March 31, | Year ended December 31, | |||||||||||
| 2026 | 2025(*) | 2025 | ||||||||||
| Unaudited | ||||||||||||
| Cash flows from operating activities: | ||||||||||||
| Loss from continuing operations | $ | (5,910 | ) | $ | (1,903 | ) | $ | (13,499 | ) | |||
| Adjustments to reconcile loss to net cash used in operating activities: | ||||||||||||
| Adjustments to the profit or loss items: | ||||||||||||
| Depreciation and amortization of property, plant and equipment and right-of-use-assets | 202 | 310 | 1,144 | |||||||||
| Share-based compensation | (9 | ) | 238 | 654 | ||||||||
| Remeasurement of Convertible SAFE | - | - | (371 | ) | ||||||||
| Net financing income | (234 | ) | 8 | (28 | ) | |||||||
| Gain from sale of equipment and deduction of right-of-use asset and subsequent investment in sub-lease asset | (23 | ) | (191 | ) | (209 | ) | ||||||
| Impairment of property, plant and equipment | - | - | 246 | |||||||||
| Inventory impairment | - | - | 2,180 | |||||||||
| Revaluation of government grants | 20 | - | 40 | |||||||||
| Amortization of deferred expenses related to issuance of warrants | 1,716 | 326 | 1,323 | |||||||||
| Expenses related to warrants inducement transaction | 2,095 | - | - | |||||||||
| Remeasurement of pre-funded warrants and warrants | (1,046 | ) | (1,477 | ) | (1,781 | ) | ||||||
| Share of loss of an associate | 43 | 2 | 39 | |||||||||
| Taxes on income (tax benefit) | 4 | - | (6 | ) | ||||||||
| 2,768 | (784 | ) | 3,231 | |||||||||
| Changes in asset and liability items: | ||||||||||||
| Decrease (increase) in trade receivables | 31 | (1,530 | ) | 665 | ||||||||
| Decrease in other receivables and prepaid expenses | 124 | 1,402 | 1,047 | |||||||||
| Decrease (increase) in inventories | 35 | (447 | ) | (1,019 | ) | |||||||
| Decrease in trade payables | (115 | ) | (306 | ) | (259 | ) | ||||||
| Increase (decrease) in employees and payroll accruals | 61 | (227 | ) | (756 | ) | |||||||
| Decrease in other payables | (70 | ) | (320 | ) | (570 | ) | ||||||
| Decrease in deferred revenues and other advances | - | (155 | ) | (361 | ) | |||||||
| 66 | (1,583 | ) | (1,253 | ) | ||||||||
| Cash received (paid) during the year for: | ||||||||||||
| Interest received | 137 | 95 | 338 | |||||||||
| Interest paid | (40 | ) | (46 | ) | (193 | ) | ||||||
| Taxes paid | (15 | ) | - | (11 | ) | |||||||
| Net cash used in continuing operating activities | (2,994 | ) | (4,221 | ) | (11,387 | ) | ||||||
| Net cash used in operating activities of discontinued operations | 40 | (961 | ) | (2,115 | ) | |||||||
| Net cash used in operating activities | (2,954 | ) | (5,182 | ) | (13,502 | ) | ||||||
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
| Three months ended March 31, | Year ended | |||||||||||
| 2026 | 2025(*) | December 31, | ||||||||||
| Unaudited | 2025 | |||||||||||
| Cash flows from investing activities: | ||||||||||||
| Purchase of property, plant and equipment | (2 | ) | (121 | ) | (135 | ) | ||||||
| Proceeds from sale of property, plant and equipment | 23 | - | 78 | |||||||||
| Proceeds from finance sub -lease asset | 21 | 3 | 52 | |||||||||
| Withdrawal from (investment in) bank deposits, net | (4,528 | ) | (2,327 | ) | (1 | ) | ||||||
| Net cash provided by (used in) continuing investing activities | (4,486 | ) | (2,445 | ) | (6 | ) | ||||||
| Net cash provided by investing activities of discontinued operations | - | - | 17,744 | |||||||||
| Net cash provided by investing activities | (4,486 | ) | (2,445 | ) | 17,738 | |||||||
| Cash flows from financing activities: | ||||||||||||
| Proceeds from issuance of ordinary shares, net of issuance expenses | - | - | 4,283 | |||||||||
| Proceeds from issuance of ordinary shares in warrant inducement transaction, net of issuance expenses | 3,206 | - | - | |||||||||
| Repayment of lease liabilities | (121 | ) | (146 | ) | (526 | ) | ||||||
| Proceeds from government grants | 101 | - | - | |||||||||
| Dividend paid by subsidiary | (193 | ) | ||||||||||
| Repayment of convertible SAFE | - | - | (10,000 | ) | ||||||||
| Repayment of government grants | - | (122 | ) | (244 | ) | |||||||
| Net cash provided by (used in) continuing financing activities | 2,993 | (268 | ) | (6,487 | ) | |||||||
| Net cash provided by (used in) financing activities of discontinued operations | - | 109 | (115 | ) | ||||||||
| Net cash provided by (used in) financing activities | 2,993 | (159 | ) | (6,602 | ) | |||||||
| Exchange rate differences - cash and cash equivalent balances | 2 | (20 | ) | 21 | ||||||||
| Increase (decrease) in cash and cash equivalents | (4,445 | ) | (7,806 | ) | (2,345 | ) | ||||||
| Cash and cash equivalents at the beginning of the period | 12,956 | 15,301 | 15,301 | |||||||||
| Cash and cash equivalents at the end of the period | $ | 8,511 | $ | 7,495 | $ | 12,956 | ||||||
| Significant non-cash activities | ||||||||||||
| Acquisition of property, plant and equipment | - | - | 2 | |||||||||
| Increase of right-of-use-asset recognized with corresponding lease liability | 15 | 207 | 207 | |||||||||
| Exercise of pre-funded warrants | - | 229 | 389 | |||||||||
| Derecognition of property, plant and equipment under a finance lease | - | 13 | 13 | |||||||||
| Dividend declared by subsidiary but not yet paid | 1,129 | - | - | |||||||||
(*) Reclassified to conform to the current period presentation, following the classification of certain operations as discontinued operations.