BioMedNewsBreaks – Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) Announces $1.33M Registered Direct
Scinai Immunotherapeutics (NASDAQ: SCNI) is a biopharmaceutical company focused on developing, manufacturing and commercializing innovative inflammation and immunology (“I&I”) biological products primarily for the treatment of autoimmune and infectious diseases. The company today announced its entry into a definitive agreement for the purchase and sale of 1,146,552 of the company’s American Depositary Shares (“ADSs”) (or ADS equivalents), each ADS representing 400 ordinary shares, at a purchase price of yesterday’s closing price of $1.16 per ADS (or ADS equivalent), in a registered direct offering. In addition, the company will issue unregistered warrants to purchase up to 1,146,552 ADSs representing ordinary shares…