Scinai Immunotherapeutics Raises $1.69M from Warrant Exercises

TL;DR

**Scinai just got $1.69M from warrants, boosting their cash without issuing new shares.**

AI Summary

Scinai Immunotherapeutics Ltd. announced on December 29, 2023, that it received $1.69 million in gross proceeds from the exercise of outstanding warrants. This influx of cash provides the company with additional capital, which is crucial for funding its operations and future development in the biological products sector. For investors, this matters because it strengthens the company's financial position without incurring new debt, potentially reducing the need for future dilutive equity offerings.

Why It Matters

This cash infusion provides Scinai Immunotherapeutics with non-dilutive funding, bolstering its balance sheet and supporting ongoing research and development efforts.

Risk Assessment

Risk Level: low — The filing indicates a positive financial event (cash inflow) with no apparent new risks or liabilities.

Analyst Insight

Investors should view this as a positive sign of improved liquidity and reduced immediate financing risk, potentially supporting the stock price in the short term.

Key Numbers

• $1.69 Million — Gross Proceeds (Amount received from the exercise of outstanding warrants, improving the company's cash position.)

Key Players & Entities

• Scinai Immunotherapeutics Ltd. (company) — the registrant filing the 6-K
• Amir Reichman (person) — Chief Executive Officer who signed the 6-K
• $1.69 Million (dollar_amount) — gross proceeds from warrant exercises
• December 29, 2023 (date) — date of the press release announcing warrant exercise
• January 2, 2024 (date) — date the 6-K report was signed

Forward-Looking Statements

• Scinai Immunotherapeutics will use the $1.69 million to fund ongoing research and development projects. (Scinai Immunotherapeutics Ltd.) — medium confidence, target: 2024-12-31

FAQ

From the Filing

0001213900-24-000072.txt : 20240102 0001213900-24-000072.hdr.sgml : 20240102 20240102092406 ACCESSION NUMBER: 0001213900-24-000072 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240102 FILED AS OF DATE: 20240102 DATE AS OF CHANGE: 20240102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Scinai Immunotherapeutics Ltd. CENTRAL INDEX KEY: 0001611747 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37353 FILM NUMBER: 24500587 BUSINESS ADDRESS: STREET 1: JERUSALEM BIOPARK, 2ND FLOOR STREET 2: HADASSAH EIN KEREM CAMPUS CITY: JERUSALEM STATE: L3 ZIP: 00000 BUSINESS PHONE: 972-8-9302529 MAIL ADDRESS: STREET 1: JERUSALEM BIOPARK, 2ND FLOOR STREET 2: HADASSAH EIN KEREM CAMPUS CITY: JERUSALEM STATE: L3 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: BiondVax Pharmaceuticals Ltd. DATE OF NAME CHANGE: 20140624 6-K 1 ea190966-6k_scinaiimmun.htm REPORT OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 Under the Securities Exchange Act of 1934 For the Month of December 2023 Commission File Number: 001-37353 SCINAI IMMUNOTHERAPEUTICS LTD. (Translation of registrant’s name into English) Jerusalem BioPark, 2nd Floor Hadassah Ein Kerem Campus Jerusalem, Israel (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ On December 29, 2023, Scinai Immunotherapeutics Ltd. issued a press release entitled “Scinai Immunotherapeutics Announces Exercise of Outstanding Warrants for $1.69 Million in Gross Proceeds” A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. Exhibit No. Description 99.1 Press Release dated December 29, 2023. This Report on Form 6-K is hereby incorporated by reference into the registrant’s Registration Statements on Form S-8 (File No. 333-271293 and File No. 333-239344 ) and Form F-3 (File No. 333-274078), to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished. 1 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Scinai Immunotherapeutics Ltd. Date: January 2, 2024 By: /s/ Amir Reichman Amir Reichman Chief Executive Officer 2 EX-99.1 2 ea190966ex99-1_scinaiimmun.htm PRESS RELEASE DATED DECEMBER 29, 2023 Exhibit 99.1 Scinai Immunotherapeutics Announces Exercise of Outstanding Warrants for $1.69 Million in Gross Proceeds JERUSALEM, ISRAEL – Dec. 29, 2023 - Scinai Immunotherapeutics Ltd. (Nasdaq: SCNI ), a biopharmaceutical company focused both on development of inflammation and immunology (I&I) biological therapeutic products and provision of boutique CDMO services, today announced the entry into a definitive agreement for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 2,606,552 American Depositary Shares (ADSs), each representing four hundred ordinary shares, having exercise prices ranging from $1.16 to $5.00 per ADS and terms ranging from five and one-half years to three years, respectively, issued by Scinai in September 2023 and December 2022, at a reduced exercise price of $0.65 per ADS. The ADSs representing ordinary shares issuable upon exercise of the warrants are registered pursuant to effective registration statements on Form F-1 (File Nos. 333-275217 and 333-267648). The closing of the offering is expected to occur on or about January 3, 2024, subject to satisfa