SCNI closes $4.0M private placement, issues Series A‑1 warrants; existing warrants exercised at $1.20

Scinai (SCNI) closed a private placement of 2,458,334 ADSs (or pre‑funded warrants in lieu) and issued Series A‑1 warrants to purchase up to 3,687,501 ADSs; it also closed the immediate exercise of Existing Warrants for up to 879,194 ADSs at a reduced $1.20 per ADS and issued an additional 1,318,791 Series A‑1 warrants. Aggregate gross proceeds were approximately $4.0 million before fees, the company received proceeds and the transactions are closed, so dilution from the issued ADSs/pre‑funded warrants is immediate; future dilution from the new Series A‑1 warrants would occur if/when exercised. Each ADS represents 40,000 ordinary shares; the company said it will file a registration statement to register resale of the private placement ADSs, ADSs issuable upon exercise of pre‑funded warrants and new warrants, and A.G.P. acted as sole placement agent. Timing: Shares were issued at closing; initial share dilution has already occurred.

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