Analyst Summary
- Silexion Therapeutics Corp. entered into a Note Conversion Inducement Agreement with EarlyBirdCapital, Inc. on March 13, 2025, to retire a convertible promissory note issued on August 15, 2024.
- The outstanding amount under the Convertible Note was $880,202.20 as of the date of the agreement.
- The agreement involves a $400,000 cash payment (plus $15,000 in legal expenses), the issuance of 277,777 ordinary shares to EBC, and a potential settlement amount based on the net proceeds from the sale of the shares.
- EBC agreed to retire the outstanding amount in consideration of the cash payment, conversion of a portion of the debt into shares, and a final payment based on the proceeds from selling the shares.
- The EBC Shares were issued pursuant to an effective registration statement on Form S-1 (Registration No. 333-282556).
- The conversion price is defined as the average net proceeds per Note Share received by the Holder from the sale of all of the Note Shares, after deducting any reasonable and documented selling and other offering expenses incurred by the Holder.
- Holder agrees that all sales of the Note Shares shall be carried out in broker transactions, on the Nasdaq Stock Market, and in keeping with (and not below) market prices as of the time of such sales.