Financing ·
Scinai raises $4.0M via private placement of ADSs and warrants at $1.20 per share
SCNIScinai Immunotherapeutics Ltd.
Scinai Immunotherapeutics entered into a Securities Purchase Agreement for the sale of 2,458,334 American Depositary Shares (ADSs) or pre-funded warrants, along with Series A-1 warrants to acquire up to 3,687,501 ADSs. The securities were sold at a combined price of $1.20 per ADS and accompanying warrants. Concurrently, the company executed a warrant inducement offering new Series A-1 warrants for 1,318,791 ADSs in exchange for the immediate cash exercise of existing April 2026 warrants at the same reduced $1.20 price. Gross proceeds from both transactions total approximately $4.0 million before fees and expenses, with closing expected around October 15, 2026. The company intends to use these funds to expand its contract development and manufacturing organization (CDMO) platform and advance its immunotherapy pipeline. Scinai Immunotherapeutics is a biopharmaceutical company operating a CDMO alongside an immunology-focused therapeutic development platform.