Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) announced a $2.61 million private placement and concurrent warrant inducement transaction. The offering was structured as a unit deal, with each unit consisting of one American Depositary Share (ADS) and two warrants, priced at $0.48 per unit. In connection with the transaction, existing warrant holders exercised outstanding warrants at $0.48 per ADS in exchange for the issuance of two new ADS warrants for each warrant exercised.
A.G.P./Alliance Global Partners acted as the financial advisor for the offering.
Lucosky Brookman LLP acted as U.S. counsel to the company in connection with the private placement and warrant inducement transaction.
